On March 29, 2010, SINOPEC signed cooperation agreement with China Merchants Group on VLCC lubricants on a signing ceremony held in Hong Kong. SINOPEC Lubricant Company will provide comprehensive lubricant products and services to Kaisheng VLCC of China Merchants Energy Shipping Co., Ltd.

 Leaders of both sides drink a toast to celebrate after the agreement signed

The deadweight tonnage of Kaisheng VLCC, about to shake down from Dalian Shipyard, is 297,000 tons. VLCC has extremely strict requirements on lubricant quality, logistics security and technical service etc. Two months ago, SINOPEC began to provide full range of lubricant products and related services for two VLCCs of 318,000 tons owned by Singaporean ship owners.

In October 2009, SINOPEC Lubricant Company announced its plan to take advantages of the powerful overseas branches of SINOPEC, expand Marine Lubricants supply net across all the continents within 3 years and basically cover all first-tier important ports in Asia, Europe, America, Africa and Australia within 5 years.