Taiwan's Formosa Plastics Group will launch its own fleet of ships to transport raw materials to its new naphtha cracker complex in central Taiwan.
The complex includes an ethylene plant, oil refinery, and nearly 50 petrochemical units.
It has an annual demand of at least 21 million tonnes of crude oil, 1 million tonnes of LPG, 10 million tonnes of coal, and 10 million tonnes of salt for industrial use.
To date, Formosa has ordered four 260,000-dwt oil tankers, three 170,000-dwt coal carriers, four 84,000-dwt LPG carriers, and three 30,000-dwt ships for transporting petrochemicals.
The first of the vessels on order, an oil tanker, is scheduled for delivery in March 2000.
By the end of 2001, the fleet will total a reported 37 vessels.
