COSCO Shipping Energy continues to expand its presence in the LNG shipping sector after placing an order for four new LNG carriers at China’s Jiangnan Shipyard. The contract is valued at approximately $953 million.
The vessels, each with a cargo capacity of 175,000 cubic meters, will be built for the company’s subsidiary, Future Ocean LNG Investment. Deliveries are scheduled between 2029 and 2030.
According to COSCO, the newbuildings will strengthen its LNG fleet, enhance operational capabilities, and support the company’s long-term growth strategy amid rising global demand for LNG transportation. Market sources indicate that the vessels may be linked to long-term charter agreements with energy major Shell.
In recent years, COSCO has steadily expanded its gas shipping portfolio alongside its extensive tanker business. The company is involved in several international LNG projects, including joint ventures with Japan’s Mitsui O.S.K. Lines and initiatives related to QatarEnergy’s LNG export expansion program.
The latest order is also expected to further reinforce Jiangnan Shipyard’s position as one of the world’s leading builders of modern LNG carriers, as the Chinese shipyard continues to benefit from strong demand in the global gas carrier market.
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