COSCO Shipping orders LNG carrier duo from Hudong-Zhonghua for $430 million

China’s COSCO Shipping Energy Transportation, COSCO’s shipping arm, said it has signed shipbuilding deals for two LNG carriers worth about $430 million with compatriot Hudong-Zhonghua.

LNG Hong Kong, a unit of COSCO Shipping entered the deals with CSSC’s Hudong-Zhonghua and China Shipbuilding Trading on May 12.

The two LNG carriers will have a capacity of 174,000 cubic meters and Hudong-Zhonghua will deliver them on or before October 31, 2025 and March 31, 2026, respectively.

In addition, Singapore-based shipping unit of China’s Sinochem will charter these vessels under a long-term deal.

COSCO Shipping said this move is in line with the company’s LNG development strategy, cementing the group’s leading position in China’s LNG transportation industry.

The firm did not reveal any details regarding the vessel’s propulsion and tanks.

One shipbuilding source told LNG Prime that the LNG carriers would feature WinGD’s dual-fuel engines and GTT’s NO96 L03+ containment system, as well as a partial reliquefaction system.

Hudong-Zhonghua and COSCO are already cooperating on several LNG carrier projects.

This includes the order in January for six 174,000-cbm LNG carriers that will serve a unit of CNOOC. MOL joined forces with COSCO for this project.

In addition, COSCO and CNPC’s PetroChina ordered three new 174,000-cbm LNG carriers at the shipbuilder in December last year.

This deal boosted the total to six vessels as Hudong-Zhonghua is already building three 174,000-cbm vessels for the partners under the PCI project and scheduled for delivery in 2022-2023.

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