Shares in Chinese state-owned tanker owners are spiking as analysts and investors count the “double blessing” of a state-owned VLCC fleet in a period of rising tanker rates and cheaper fuel.
The winners include China Merchants Energy Shipping (CMES), China Shipping Development Corp (CSDC) and China Cosco Holdings, all listed on the Shanghai stock exchange.
All are expanding their VLCC fleets in connection with Chinese government policies aimed at national control of resource shipping.
Mainland
