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Oil shipper expands fleet

(China Daily)
Updated: 2007-04-14 18:35

China Shipping Development Co, the nation's biggest oil shipper, said it plans to spend $92.4 million on two oil tankers to expand its fleet and tap increasing energy demand.

The 46,500-ton tankers will be delivered by 2009,Shanghai-based China Shipping said in a statement to the city's stock exchange on Friday. The order will increase the company's fleet to 71 oil carriers, it said.