CV Shipping is a joint venture between PDV Marina S.A. and PetroChina International (Singapore). Both are established players in the oil industry.
As an arrangement between two state-owned companies, this undertaking is symbolic of bilateral cooperation between Bolivarian Republic of Venezuela and Peoples Republic of China.
In order to support the demands of a growing market, CV Shipping has invested in the building of four VLCCs. The vessels are being built in Huludao, China by Bohai Shipbuilding Heavy Industry and China Shipbuilding & Offshore International. A dedicated team is based at the shipyard to oversee the quality of shipbuilding and ensure safety at work.