COSCO Shipping Energy Orders Four LNG Carriers from Jiangnan Shipyard
COSCO Shipping Energy Transportation has ordered four LNG carriers with a total investment of $952.7 million. These vessels will be delivered between 2029 and 2030 and chartered to Shell Tankers Singapore for a seven-year term, potentially generating lease revenues of approximately $780 million.
Theia Market Signal Identification - AI Assisted
COSCO Shipping Energy Transportation (CSET) has contracted Jiangnan Shipyard to construct four liquefied natural gas (LNG) carriers, each with a capacity of 175,000 cubic metres. The investment for this project amounts to CNY6.445 billion ($952.7 million), funded through internal and external financing.
The expected delivery of these vessels is slated for between 2029 and 2030, with a charter to Shell Tankers Singapore for seven years, including extension options. This charter is projected to yield total lease revenues around CNY5.4 billion. The strategic partnership with Shell could enhance COSCO's market position in LNG transportation.
Comments