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Cosco Shipping books three LNG carriers at Hudong-Zhonghua

Cosco Shipping Energy three LNG Hudong-Zhonghua (002).jpg
Cosco Shipping Energy Transportation ordered three 174,000 cu m LNG carriers at Hudong-Zhonghua Shipbuilding at a total cost of $554m.

Hudong-Zhonghua Shipbuilding and China Shipbuilding Trading will jointly design and build the vessels which are scheduled for delivery on 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 (each being a wholly owned subsidiary of United Liquefied Gas Shipping) 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 development strategy of the group for its business of LNG transportation. The construction of the vessels will allow the group to expand the scale of its LNG fleet and capitalise on the recent positive market environment of LNG trading and the consequential growing market demand for LNG transportation, said Cosco Shipping Energy Transportation.

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