COSCO Shipping Energy Transportation (SHA:600026, HKG:1138) unit Huanyu signed time charter contracts for six very large crude carrier vessels with Hainan COSCO Shipping Development, a unit of related party COSCO Shipping Development (SHA:601866, HKG:2866).
The transaction is subject to shareholder approval, according to a Thursday filing with the Shanghai bourse.
COSCO Shipping Energy rose 1% in recent trade on the Shanghai bourse and 2% on the Hong Kong bourse.
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