Newly formed China VLCC Co, a joint venture between China Merchants Energy Shipping (CMES) and Sinotrans & CSC, is destined to become the largest Chinese crude tanker company and is taking shape as predicted.

It is estimated the Hong Kong-based company will control a fleet of at least 40 VLCCs in two years’ time.

It will be operational by the end of September and kicks off with 26 vessels, comprising 17 tankers from troubled Nanjing Tanker Corp, a subsidiary of Sinotrans, with the remaining nine units from AMCL, the tanker wing of CMES.

Xie