China's Cosco Shipping Energy Transportation (CSET) has launched a VLCC pool with the backing of leading players including Navios Holdings, Wah Kwong and Landbridge Holdings.

Named China Pool, it has adopted the slogan: "We pool, we win."

The VLCC venture — first mooted in 2019 — will launch with a fleet of 42 tankers, totalling 12.9m dwt.