Titan in talks with Strong Petrochemical

Titan Petrochemicals Group Ltd. and Strong Petrochemical Holdings Ltd. said they are in talks to cooperate in the oil trading business. Strong will rent logistics and storage services from Titan for its Chinese operations. Titan owns three onshore oil storage projects in coastal China, as well as six very large crude carriers (VLCC) and eight coastal tankers. Media reports said the tie-up would benefit from Titan’s wide network of oil transport and storage facilities and Strong’s established relationships with its Chinese customers. (February 21/24, 2009)