Cosco Shipping Energy to buy into MOL’s new Chinese LNG carriers

According to COSCO Shipping Energy Transportation’s statement, its subordinate COSCO Shipping LNG Investment (Shanghai) Co. Ltd. will purchase a 49% stake in each of the three single-vessel entities established by MOL in Liberia and will participate in the construction of the vessels. The three 174,000 cbm LNG carriers will built at Hudong-Zhonghua, which are expected to be delivered in 2028.

COSCO Shipping Energy will boost Shanghai COSCO Shipping LNG capital by US$118.12 million, and then Shanghai COSCO Shipping LNG will boost Future Ocean LNG Investment Co., Ltd capital by US$118.12 million.Acquisition by Future Ocean LNG Investment Co., Ltd of 49% of the shares of each of the three single-ship companies established by MOL in Liberia. The three newbuildings will be subject to charter agreements with ENN LNG, a Singapore-based subsidiary of China’s ENN Natural Gas.

Previously, COSCO Shipping Energy Transportation has placed orders in June 2020, December 2021 and July 2023 for nine (three per batch) 174,000 cbm LNG carriers with CSSC Hudong-Zhonghua Shipbuilding. COSCO owns interests in more than 70 LNG carriers.

Yangzijiang Shipbuilding

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