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China VLCC buys two used VLCCs for $165m
China VLCC, a joint venture between China Merchants Energy Shipping (CMES) and Sinotrans&CSC, has bought two second-hand VLCCs from Sinokor Merchant Marine for a total of USD165 million, bringing its fleet in service to 33 VLCCs, IHS Maritime 360 reports. China VLCC signed the vessel acquisition contracts with Sunrise Petrochemical SA and Nanjing Fountain SA, both subsidiaries of Sinokor Merchant Marine, on 27 April, according to CMES' stock filing on 29 April. CMES owns 51% of China VLCC. According to IHS Maritime's Sea-web.com, the two vessels are 2009-built Beijing Sunrise and 2011-built Dalian Glory, which had been chartered in by Nanjing Tanker before the company terminated the charterparty over the two vessels in 2014.
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