COSCO Shipping Energy Transportation's (HKG:1138, SHA:600026) subsidiary, Pan Cosmos Shipping & Enterprises, agreed to lease 16 very large crude carriers from Oriental Fleet International, a unit of COSCO Shipping Development (SHA:601866, HKG:2866), according to a Hong Kong bourse disclosure on Wednesday.
The VLCCs have a capacity of 307,000 tons each and will be leased for 240 months and 90 days after delivery.
The average daily rent for each vessel will amount to 116,520 yuan.
The vessels will be delivered between October 2029 and December 2030.
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