Hubei Province-based Chinese steelmaker Wuhan Iron and Steel Co. (WISCO) announced it has successfully produced corrosion-resistant steel plate for application in oil storage tanks aboard oil tankers.

In accordance with the requirements and specifications of China Classification Society (CCS) as well as the International Maritime Organizaion (IMO), the corrosion-resistant steel plate in question is designed to limit deterioration of storage tanks on crude oil tankers.

The successul development of this steel plate constitutes a breakthrough among Chinese steelmakers and will break the monopoloy of overseas producers, WISCO says. In 2008, Japanese steelmaker JFE Steel Corp., in collaboaration with the country's transportation giant MOL (Mitsui O.S.K. Lines, Ltd.), developed corrosion-resistant steel plate called JFE-Steel for Ship Inside Protection - for oil tankers.