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Jiangnan Shipyard bags LNG carrier pair from domestic insurer

CSSC Hudong Zhonghua LNG carrier
China’s insurance service provider, Taiping Insurance, has ordered two 175,000 cu m LNG carriers via its subsidiary from CSSC Jiangnan Shipyard at a total cost of $470m.

The first vessel is expected to be delivered before the end of March 2027 and the second one is due for delivery before 31 July 2027.

Upon delivery, the vessels will be chartered to Shandong Marine Energy (Singapore) for a period of 180 months. 

Signing of the finance lease arrangements is beneficial to the company by increasing the income of its finance lease business and is consistent with the groups business development strategy, China Taiping said in a statement.

Jiangnan Shipyard is one of the three Shanghai-based flagship yards owned by China State Shipbuilding Corporation (CSSC). This order is the first large-size LNG carrier construction deal the yard has secured this year.