Sinochem Oil Attends the Signing Ceremony for CHINA POOL's Official External Operation

Source:     Author:     Date:2021-10-21     

On October 18, CHINA POOL, the first VLCC pool in China, officially opened its doors to global ship owners, which became an important milestone for the Chinese oil tanker transportation industry as it enters a new era of shared and win-win cooperation. As an important industry partner of COSCO Shipping Group, Sinochem Oil Co., Ltd. participates and devotes itself to launching CHINA POOL with COSCO to create a “tanker pool” through main vessel types. The companies have jointly created a business model built around sharing resources, benefits, and risks and are devoted to providing intensive, efficient, and safe transportation and supporting services for the global crude oil trade.

CHINA POOL, initiated by COSCO Shipping Group, is the first and only VLCC POOL in China, with 42 VLCCs and 12.89 million DWT. These features allow it to help improve the safety management level of vessels in the pool and provide customers with safer quality services through unified standards and management. The official operation of CHINA POOL highlights that a tanker pool with Chinese elements will play an important role in guaranteeing national energy transportation security by gradually integrating fragmented capacity in the market. It will furthermore contribute Chinese solutions and Chinese power toward building a global energy transportation ecosystem.

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