Cosco, CNPC to order LNG tanker trio at Hudong

A joint venture consisting of Chinese shipowner Cosco and energy giant CNPC is to order three LNG carriers at Hudong Zhonghua Shipbuilding.

The price for each of the 174,000-cbm LNG carriers is $185 million, according to Cosco Shipping Energy Transportation.

Following delivery, the vessels will transport LNG for CNPC’s Hong Kong-listed unit PetroChina.

Cosco unit Cosco Shanghai will have a 60 percent stake in the joint venture. Cosco Oil Shipping, the newly-formed joint venture between Cosco and CNPC, will take a 21 percent share.

PetroChina subsidiary Jiafu Shipping will have the remaining 19 percent of equity in the joint venture.

Cosco’s LNG tanker fleet consists of 36 vessels out of which 30 ships are jointly owned.

Worth mentioning here, this is the second LNG carrier order for Hudong Zhonghua Shipbuilding in the last seven days following the big announcement by Qatar Petroleum.

The deal potentially worth more than 11 billion Qatari riyals ($3 billion) involves up to sixteen 174,000-cbm LNG carriers.

Most Popular

Shell adds another LNG carrier to its fleet

A unit of UK-based LNG giant Shell has added another chartered liquefied natural gas carrier to its fleet.

Eni’s Nguya FLNG ready to start serving second phase of Congo LNG project

Italian energy firm Eni hosted on Tuesday the sail-away ceremony for the Nguya floating liquefied natural gas (FLNG) unit in Shanghai, China. The unit is ready to start serving the second phase of Eni's Congo LNG project.

CMA CGM, Evergreen, HMM, and Maersk eye LNG-powered containership orders

France's CMA CGM, Taiwan's Evergreen, South Korea's HMM, and Denmark's Maersk are all looking to order LNG dual-fuel containerships at yards in China and South Korea, according to shipbuilding sources.

More News Like This

Cosco Shipping Development, MOL seal sale and leaseback deal for LNG carrier

Cosco Shipping Development, a unit of Cosco Shipping, has entered into a sale and leaseback agreement with a unit of Japan's MOL for one 271,000-cbm LNG carrier.

Another QatarEnergy LNG carrier named in China

Chinese shipbuilder Hudong-Zhonghua hosted a naming ceremony for another LNG carrier built under the massive QatarEnergy shipbuilding program.

QatarEnergy LNG tanker wraps up trials in China

A 174,000-cbm LNG carrier built as part of the massive QatarEnergy shipbuilding program has completed its trials in China, according to Hudong-Zhonghua.

Hudong-Zhonghua to build another LNG bunkering vessel for TotalEnergies

China’s Hudong-Zhonghua said it had secured another order to build one 18,600-cbm LNG bunkering vessel for French energy giant TotalEnergies and Spain's shipping firm Ibaizabal.