DSIC starts work on first LNG carrier for Cosco and Sinopec

China’s Dalian Shipbuilding Industry (DSIC) has officially started building the first LNG carrier for a joint venture consisting of units of Cosco Shipping Energy Transportation and Sinopec.

According to a statement by DSIC, the shipbuilder held a steel-cutting ceremony on Monday for the LNG carrier with a working name G175K-9.

DSIC said the LNG carrier will be 299.7 meters long and 46 meters wide, with a design draft of 11.5 meters and a design service speed of 19.5 knots.

The vessel’s tanks will feature GTT’s Mark III Flex tech.

This is the first of three LNG carriers DSIC will build for China Energy Shipping, the Hong Kong-based JV in which Sinopec’s unit Kantons Investment holds a 49 percent stake and Shanghai Cosco Shipping LNG holds a 51 percent share.

In August 2023, the JV and DSIC entered into the shipbuilding contracts for these vessels.

The deals are worth about $700 million or some $233.3 million per vessel.

The delivery of the vessels is expected to take place on or before March 31, 2027, June 30, 2027, and April 30, 2028, respectively.

Following delivery, the vessels will serve Sinopec under long-term charter deals to ship US LNG volumes Sinopec contracted from Venture Global LNG in November 2021, Sinopec previously said.

Under the 20-year sales and purchase agreements, Venture Global will supply a total of 4 million tonnes per annum of LNG from its Plaquemines LNG export facility in Louisiana to Sinopec.

Most Popular

Venture Global, Petronas seal 20-year LNG SPA

US LNG exporter Venture Global LNG has signed a 20-year LNG supply contract with Malaysian energy giant Petronas for volumes from the CP2 project in Louisiana.

Golden Pass LNG seeks re-export approval

Golden Pass LNG, a joint venture owned by energy giants QatarEnergy and ExxonMobil, is seeking approval from the US DOE to export previously imported LNG from October, as it nears the launch of the first liquefaction train.

TPDC, Energetech Tantel to develop Tanzanian small-scale LNG plant

State-run Tanzania Petroleum Development Corporation has signed a memorandum of understanding with Energetech Tantel to develop what they say is Tanzania's first small-scale LNG plant.

More News Like This

DSIC launches another CMES LNG carrier

China’s Dalian Shipbuilding Industry (DSIC) has floated out the fifth LNG carrier for compatriot China Merchants Energy Shipping (CMES), a unit of China Merchants Group.

DSIC launches fourth CMES LNG carrier

China’s Dalian Shipbuilding Industry (DSIC) has floated out the fourth 175,000-cbm LNG carrier for compatriot China Merchants Energy Shipping (CMES), a unit of China Merchants Group.

China’s Sinopec secures price cut for APLNG contract

China’s state-controlled energy giant Sinopec has secured a lower price for its long-term liquefied natural gas supply deal with Australia Pacific LNG following a price review, according to APLNG shareholder Origin Energy.

DSIC delivers MSC’s LNG-fueled containership

China’s Dalian Shipbuilding Industry (DSIC) has delivered a new LNG-fueled containership to Switzerland-based shipping giant MSC.