Shipping giants lift oil fleet capacity
China's shipping firms are expanding their crude oil tanker fleet transportation capacity to help safeguard the nation's vulnerable oil supplies.
This is under a government-backed plan to increase domestic companies' share in the delivery of Chinese oil imports.
China Ocean Shipping Group (Cosco) President Wei Jiafu said that the firm, the nation's largest shipping company, plans to build 15 very large crude carriers (VLCCs) by 2010, to become China's largest crude shipping fleet.
Cosco currently has a total of seven VLCCs in its fleet
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