PetroChina, CMES ink long-term charter deal for LNG carrier duo

State-owned PetroChina has signed a long-term charter deal for two liquefied natural gas (LNG) carriers with compatriot China Merchants Energy Shipping (CMES), a unit of China Merchants Group.

According to a statement by PetroChina International, the two firms signed the deal in Shanghai on Tuesday.

The charter period is 25 years and includes two 175,000-cbm LNG carriers, the company said.

This is the first time for the two firms to cooperate in LNG transportation, and also the longest chartering period of both parties, PetroChina said.

PetroChina did not provide any additional information regarding the deal.

This charter deal is related to the eight 175,000-cbm LNG carriers CMES ordered at China’s Dalian Shipbuilding Industry (DSIC).

DSIC started building the first LNG carrier in this batch in June.

CMES said in a separate statement that it has ordered the two chartered LNG carriers at DSIC in December last year. These two LNG carriers are each worth about $235 million.

The charter price is based on the current market rate of modern LNG carriers, CMES said.

All of the eight LNG carriers will be 295 meters long and 46.4 meters wide, with a design draft of 11.5 meters and a speed of 19.5 knots, according to DSIC.

The vessels feature the latest LNG dual-fuel low-speed main engine with integrated ICER system, a reliquefaction unit, and GTT’s Mark III Flex membrane containment system, it previously said.

CMES will take delivery of all of these LNG carriers during 2025-2027.

Most Popular

Technip Energies wins contract for Eni’s Coral Norte FLNG

France-based LNG engineering giant Technip Energies has won a contract for preliminary work on Eni's second FLNG project in Mozambique, Coral Norte (Coral North).

Victrol: LNG London hits bunkering milestone

The Shell-chartered inland bunkering vessel LNG London, owned by a joint venture of Belgium's Victrol and France's Sogestran, has reached a new operational milestone.

Himalaya’s LNG-fueled bulkers earned $34,500 per day in June

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $34,500 per day in June.

More News Like This

LNG Canada sends second cargo

Shell-led LNG Canada has shipped the second cargo of liquefied natural gas from its Kitimat facility on the west coast of Canada. LNG Canada shareholder Petronas will deliver this shipment to Japan.

Shell’s LNG Canada to ship second cargo

Shell-led LNG Canada is expected to soon ship the second cargo of liquefied natural gas from the Kitimat facility on the west coast of Canada, according to shipping data.

Shell ships first LNG Canada cargo

LNG giant Shell and its partners have shipped the first cargo produced at the LNG Canada facility in Kitimat, on the west coast of Canada.

MSC books more LNG-fueled containerships in China

Switzerland-based shipping giant MSC has ordered ultra-large LNG dual-fuel container vessels from a China Merchants Industry yard, according to shipbuilding sources.