A letter of intent to build ships jointly by Petroleos de Venezuela, S. A. (PDVSA) and the Chinese company Rongshen Shipyards was signed this week in the framework of cooperation alliances between the People’s Republic of China and Venezuela.

Asdrubal Chavez, PDVSA’s Vice President for Refining, Commerce and Supply, signed the document as PDVSA’s representative and highlighted the “importance of the goal both countries have set forth of strengthening their cooperation more and more every day”.

Similarly, he underlined that this signing is very significant for PDV Marina, an affiliated company of Petroleos de Venezuela, since “it allows us to strengthen control over oil, crude and other derivative transportation, and at the same time use this investment to promote the development of Venezuela’s naval industry.