Under an agreement signed Apr. 18, Sinotrans said it will provide Sinochem with oil transportation by sea, air, rail, and road as well as storage services, all aimed at increasing efficiency and lowering costs.
The Sinotrans statement, which did not stipulate the amounts the firm will transport, follows an Apr. 17 oil products shipping contract between China National Petroleum Corp. and Nanjing Oil Shipping Group, a subsidiary of China Chang Jiang National Shipping Group.
Under that contract,
The transport agreements are consistent with Chinese government policy, which promotes use of domestic shipping firms to curb foreign currency outlays and to assume a tighter grip of the country"s energy supply chain.
PIN/OGJ.COM
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