China Merchants Energy Shipping (CMES), a unit of China Merchants Group, has ordered two more 175,000-cbm LNG tankers from China’s Dalian Shipbuilding Industry (DSIC).
Earlier this year, CMES placed an order for two LNG carriers for $380 million, DSIC’s first order for large LNG carriers.
These dual-fuel LNG carriers, scheduled for delivery in the second half of 2025 and the first half of 2026, will feature GTT’s Mark III Flex membrane containment system.
This contract for two LNG carriers had an option for two additional vessels with a price tag of $400 million, or $200 million each, and CMES has now exercised that option.
The two firms signed the deal on September 24, CMES said in a statement.
CMES said it would take delivery of these vessels in the second half of 2026.
Three out of four of these LNG carriers will go on charter to Sinochem as CMES signed LNG carrier charter deals last month with Sinochem worth up to $2.5 billion.
Under the deal, the company’s unit CMES LNG Carrier Investment will charter three LNG carriers to Sinochem Oil Shipping (Singapore).
The deals will have a duration of 30 years, starting in the second half of 2025.
Up to eight LNG carriers
Besides the order for the two new LNG carriers, CMES said it has also signed a letter of intent with DSIC for the construction of 2+2 175,000-cbm LNG carriers.
This brings the total up to eight LNG vessels.
If confirmed, DSIC would deliver two of these LNG carriers in or before the second half of 2026, and the two optional ships in the second half of 2026 and the first quarter of 2027, according to CMES.
CMES did not provide the price tag for the new LNG carriers, but it will be higher than $200 million per vessel.
Shipbuilding sources said the price may reach over $230 million per vessel.