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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (282)	8/11/2003 1:09:25 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China to expand fleet of oil tankers Beijing, Aug. 11. (PTI): China plans to expand its fleet of oil tankers to strengthen its ocean transport capability and secure oil supplies which are strategically vital for the country's fast-paced economic growth. "To achieve this objective, the Water Transport Department of the Ministry of Communications has set up a task force to discuss detailed plans for the expansion of the country's fleet of oil tankers," Zhang Shouguo, an official with the Ministry said. As the world's third largest oil consuming country, China imported about 1.4 million barrels of oil each day in 2002. Over 90 per cent of China's oil imports were transported by ship, of which 90 per cent was carried by foreign tankers. Zhang said experts had suggested that China should have enough oil tankers to transport 50 per cent of its oil imports, Xinhua news agency reported. "In that case, China would secure the safety of its oil imports, and related industries, including ship-building and steel, would also be stimulated," Zhang quoted experts as saying. hinduonnet.com