February 14 - In signing an agreement with Guangzhou Salvage Bureau of the Chinese Ministry of Transport (GSBMT) to manage GSBMT's 30,000 dwt semi-submersible ship, Hua Hai Long, COSCO Shipping claims it has initiated the first 'pool model' among Chinese

COSCO Shipping says that the agreement symbolises that Chinese semi-submersible owners have entered a new era of integration and control which, it says, will lead to an even stronger position in the market.

Hua Hai Long is a 30,000 dwt newbuilding; 182.2 m in length, 43.6 m in width and 11 m in draught.

The ship has a large deck area, advanced ballast system, and can handle a wide range of cargoes, says COSCO Shipping.

With the addition of Hua Hai Long, COSCO Shipping's semi-submersible pool has reached five vessels, giving it the capability of transporting small, medium and large offshore and onshore cargoes.

Han Guo Min, CEO of COSCO Shipping, pointed out, "The capability of COSCO Shipping's semi-submersible fleet has been strengthened, and COSCO Shipping has become the only Chinese company in the list of global semi-submersible transportation suppliers to receive a Green-class approval rating from Shell in regards to a HSE Management System audit. As the semi-submersible market changes, further cooperation and pooling arrangements will be a general trend."