Chinese supertanker set for maiden voyage to Mid-East
- Source: Global Times
- [08:14 January 12 2010]
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"A crude oil carrier is the easiest target for a pirate attack because it travels at a relatively lower speed compared to other cargo ships," said Miss Zhu, director of the Shipping Division of China Shipping Group Company, which is in charge of the business operations of Xin Buyang.
"But that should not prevent us from developing our own large-scale oil tanker which is much more cost effective," Zhu added.
However, Zhou Hongchun, professor of social development at the Development Research Center of the State Council, told the Global Times that despite the increased number of Chinese made large-scale oil tankers, the imported crude oil shipping industry is still dominated by foreign tankers.
A 2005 statistic reveals that the nation's oil imports shipped by domestic oil tankers made up only 10 percent of the total, and 90 percent of oil imports were shipped by leasing foreign oil tankers.
"That situation has changed much over the years," said professor Zhou, indicating that the competitive edge of Chinese oil tankers still lacks behind.
Since 2003, China has become the world's second largest crude oil consumption country after the US. Imported crude oil amounted to 183 million tons last year.
