Description

COSCO SHIPPING Energy Transportation Co., Ltd. is an investment holding company primarily focused on the global and domestic transportation of energy resources. It specializes in shipping crude oil, liquefied natural gas (LNG), and various chemicals, operating distinct segments for Oil Shipment, LNG, and other related activities. Beyond these core operations, the company also engages in vessel chartering, the carriage of liquefied petroleum gas (LPG), and providing shipping agency services. As of December 31, 2021, its substantial fleet comprised 166 oil tankers, boasting a combined capacity of 25.24 million deadweight tons (DWT). This included 154 self-owned vessels (21.86 million DWT) and 12 chartered-in tankers (3.38 million DWT). Furthermore, the company held interests in 47 LNG carriers; of these, 38 were actively operating with an aggregate capacity of 6.42 million cubic meters, while an additional 9 vessels, totaling 1.56 million cubic meters, were under construction. Founded in 1994 and headquartered in Shanghai, People's Republic of China, the company underwent a name change in October 2016, transitioning from its former identity as China Shipping Development Company Limited.