MOL said that Cosco would take a 50% stake in the subsidiary that will own the four vessels that will be on long term charter for the Yamal LNG project.
At the end of June MOL ordered four 174,000 cu m LNG newbuildings from Hudong- Zhonghua Shipbuilding for $749.5m for delivery in 2019 and 2020.
Once the vessels are delivered it will bring the number of ships jointly owned by MOL and Cosco to 17.
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