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COSCO Shipping Energy Transportation Orders 3 LNG Carriers Worth $554
Team Sea and Coast | 01/07/2020

Shanghai based Cosco Shipping Energy Transportation has placed ordersfor three 174,000 cu m LNG carriers worth $554 million at Hudong-Zhonghua Shipbuilding. The project will be jointly designed by China Shipbuilding Trading and Hudong-Zhonghua Shipbuilding, with estimated time of deliverybeing 31 October 2022, 31 January 2023, and 30 April 2023, respectively.The three single ship companies, United Prosperity LNG, United Glory LNG and United Fortune LNG which are subsidiaries of the United Liquefied Gas Shipping have  entered into the shipbuilding contracts with Hudong-Zhonghua Shipbuilding and China Shipbuilding Trading for the construction of the vessels.

 

United Liquefied Gas Shipping is an indirect non-wholly owned subsidiary of Cosco Shipping Energy Transportation. It is principally engaged in the investment, leasing, operation and management of liquefied natural gas vessels, ethane vessels and other vessels.The deal is in line with the group’s development strategy for its LNG transportation business. The construction project will allow the expansion of the scale of the groups LNG fleet and capitalise on the recent positive market environment of LNG trading and the consequential growing market demand for LNG transportation, said a statement by Cosco Shipping Energy Transportation.

 

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