Uncertainty about Chinese VLCC pool

Several times, it has been rumoured that a Chinese VLCC pool challenging e.g. the Nova Tankers pool backed by Maersk Tankers would be formed. Announcements from four Chinese tanker carriers do not confirm the rumours, Lloyd’s List reports.

Photo: Hyundai Merchant Marine

Talks of a Chinese VLCC pool have grown bigger since Cosco Dalian last week confirmed that the company invests in ten new supertankers just as China Shipping Group has stated similar deliberations. However, the rumours have not been confirmed, Lloyd’s List reports.

A Chinese VLCC pool has been discussed several times since the beginning of 2012 when Maersk Tankers initiated the Nova Tankers pool. Furthermore, the alleged Chinese pool was also meant to challenge another competitor, Tankers International. In connection to China Shipping Group’s announcements on possible investments in VLCC newbuildings, CEO Xu Lirong said that the idea of a Chinese VLCC pool was “a strategy promoted by the country” and “a very mature idea in the international market”.

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