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COSCO Shipping Awards 6.45 Billion Yuan Contract for Four LNG Vessels to Jiangnan Shipyard

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COSCO Shipping Energy Transportation (HKG:1138, SHA:600026) has awarded a 6.45 billion yuan contract to Jiangnan Shipyard for the construction of four LNG vessels, according to a Tuesday filing with the Hong Kong bourse.

The company is seeking four LNG carriers, each with a guaranteed cargo capacity of at least 175,000 cubic metres and a deadweight of approximately 80,800 metric tons at design draught, each.

Each vessel will cost about 1.61 billion yuan and COSCO Shipping said it would settle payment in five installments.

The vessels are scheduled for delivery between 2029 and 2030, and will help "reinforce and expand" the shipping capacity of the company's LNG fleet, COSCO Shipping said.

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