Nation builds more large oil carriers to secure oil security
(Xinhua)
Updated: 2006-10-29 09:08
China is now the world's third largest oil importer after the United States
and Japan. Last year, China imported 127 million tons of crude oil and more than
30 million tons of refined oil.
China's crude oil imports are expected to rise to 130 million tons this year
and the figure will surge to over 200 million tons in 2010.
Shanghai-based CSGC, founded in 1997, is one of China's two major state-owned
ocean shipping companies. Total tonnage for its 450 ships is 15 million weight
tons. It can carry 60 million tons of crude oil and processed oil annually.
Beijing-based CSSC, founded in 1999, is a huge conglomerate and
state-authorized investment institution directly administered by the central
government.
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