China Merchants Energy Shipping (CMES), a unit of China Merchants Group, said it has signed LNG carrier charter deals with Sinochem worth up to $2.5 billion.
Under the deal, the company’s unit CMES LNG Carrier Investment will charter three 175,000-cbm LNG carriers to Sinochem Oil Shipping (Singapore).
According to a statement by CMES, the deals will have a duration of 30 years, starting in the second half of 2025.
Earlier this year, CMES ordered two firm and two optional 175,000-cbm LNG carriers at China’s Dalian Shipbuilding Industry (DSIC).
CMES said it would pay $380 million for the first two carriers while the price tag for the two optional vessels would reach $400 million.
The LNG dual-fuel ships will have a length of 295 meters and a width of 46.4 meters.
Also, both of the vessels will feature GTT’s Mark III Flex cargo containment system.
CMES expects to take deliveries of the vessels in the second half of 2025 and the first half of 2026.