MOL to Take Delivery of VLCC

MOL says that its joint venture with China’s Sinotrans, MS Tanker Shipping expects to take delivery of a VLCC newbuilding in 2008. A press statement does not specify whether malaccamax ship is a new order at Japan’s Mitsui Engineering & Shipbuilding or an existing order by MOL. MOL set up M.S. Tanker with Sinotrans, one of China’s major shipping companies, in April, 2004 to meet China’s increasing demand for crude oil transport. The JV has taken ownership of one VLCC and has chartered one another from MOL. Both of these ships, which have single hulls, have mainly traded between the Middle East Gulf and China.