Description

COSCO SHIPPING Energy Transportation Co., Ltd. operates as an investment holding company with a core focus on the global and domestic maritime transportation of energy commodities. Its primary activities involve the shipment of crude oil, liquefied natural gas (LNG), and various chemical products across international routes and along the Chinese coastline. The company organizes its business into segments covering Oil Shipment, LNG transport, and other related services. Beyond these, it also provides vessel chartering services, transports liquefied petroleum gas (LPG), and delivers comprehensive shipping agency solutions. As of December 31, 2021, its substantial fleet comprised 166 oil tankers, collectively offering a capacity of 25.24 million deadweight tons (DWT). This total included 154 self-owned vessels with a combined capacity of 21.86 million DWT, alongside 12 chartered-in tankers contributing 3.38 million DWT. Furthermore, the company held investments in 47 jointly-owned LNG carriers; 38 of these were actively in operation, boasting an aggregate capacity of 6.42 million cubic meters, while an additional 9 vessels, projected to have a capacity of 1.56 million cubic meters, were under construction. Established in 1994, the company was initially known as China Shipping Development Company Limited. It adopted its current name, COSCO SHIPPING Energy Transportation Co., Ltd., in October 2016 and maintains its headquarters in Shanghai, People's Republic of China.