How has the company been cooperating with China Shipping, China Merchants Group and China Railway Group in terms of transportation, and how have the transportation charges been decided?
The company’s cooperation with China Shipping, China Merchants Group and China Railway Group in terms of transportation has not only helped the company tap the fuel oil market and endued the company with a variety of oil products supply channels, but also provided the other three parties with a stable transportation market, which is conducive to the company on fronts of ensuring stable transportation of crude oil and finished oil products, and bringing down the company’s operating costs, as the companyll. 1. Cooperation with China Shipping Group in terms of transportation The company signed a cooperative investment agreement with CNOOC on 25 September 2003, and agreed to invest jointly (by providing the total share capital by 50/50) in organizing Sinopec-CNOOC Vessel Fuel Supplies Co., Ltd. The joint venture makes use of the both parties’ the companyll-established supply and purchasing channels, enjoys the preemptive purchasing right of fuel resources offered by Sinopec, and holds the
Related Questions
- How has the company been cooperating with China Shipping, China Merchants Group and China Railway Group in terms of transportation, and how have the transportation charges been decided?
- When the terms of sale are FOB shipping point the does the buyer pay the transportation charges?
- Who pays for shipping charges from China?
