Titan to build 10 tankers in Quanzhou shipyard

Titan Quanzhou Shipyard, situated in the province of Fujian, wants to deliver 10 ships this year. The shipyard is a subsidiary of Hong Kong-listed oil supplier, Titan Petrochemicals Group. Two double-hull oil tankers, each with a class of 7,000 deadweight tons, have been delivered to a Singaporean ship owner in the first half of the year. They will be used for shipping oil products and refueling. The shipyard intends to deliver eight oil tankers and chemical tankers in the second half of the year. It has decided to improve the management of shipbuilding projects and set up more production facilities to boost operating efficiency. Titan Petrochemicals believes the market demand for double-hull refueling tankers will keep rising. The production plan of the shipyard will focus on this ship model. (July 8, 2008)