New business

PetroChina likes Brazilian crude oil

by Port News Editorial Staff

The Chinese oil giant PetroChina has signed a long-term contract for the chartering of a shuttle tanker operated by the Japanese carrier NYK Line.

The Hilda Knutsen, a Suemax of 154 thousand DWT, will be used to transport oil produced in Brazil to China. The charter agreement will be operational from 2022 and will last for ten years.

The tanker, built by Zhoushan Shipyard belongs to Knutesen NYK Offshore Tankers,a 50/50 joint venture between NYK and Norway’s TS Shipping Invest.

The company has a market share of 40% in the shuttle tanker sector (ships specialized in transporting oil directly from offshore platforms) and operates a fleet of 34 vessels.

Translation by Giles Foster

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