VLCC owner China Merchants Energy Shipping (CMES) is refinancing debt with a new loan from its parent.
The China Merchants group is providing CNY 1.8bn ($272m) over a year, it said.
The facility, arranged through China Merchants Group Finance, can be renewed with an annual interest rate of 3.48%.
Last December, the company borrowed CNY 1.6bn from ICBC for a year.
