Cosco Shipping, DSIC seal deal for two LNG carriers

China’s Cosco Shipping Energy Transportation and compatriot Dalian Shipbuilding Industry (DSIC) signed a shipbuilding deal for two liquefied natural gas (LNG) carriers.

DSIC said in a statement the deal for the two 175,000-cbm LNG carriers was signed on Friday.

The vessels will be equipped with WinGD dual-fuel engines with integrated ICER system, and GTT’s Mark III Flex membrane containment system.

DSIC noted that this marks another cooperation between the two firms as the shipbuilder is already constructing three 175,000-cbm LNG carriers with the same specifications for a joint venture consisting of units of Cosco Shipping Energy Transportation and Sinopec under a deal signed in August last year.

The shipbuilder did not provide further information regarding the new deal.

Cosco Shipping Energy Transportation said in a separate statement the deal is worth about 3.46 billion yuan ($488 million).

The company’s unit Cosco Shipping LNG Investment (Shanghai) ordered the vessels via two special purpose LNG carrier companies.

Also, the two vessels are expected to be delivered in the second half of 2027.

In July this year, LNG Prime was the first to report that Cosco Shipping Energy Transportation signed a letter of intent with DSIC for two 175,000-cbm LNG carriers.

Earlier this week, the company confirmed it will order the two LNG carriers.

17 LNG carrier orders for DSIC

In March 2022, DSIC won its first large LNG carrier order for two ships from China Merchants Energy Shipping (CMES), a unit of China Merchants Group, and after that CMES added six more vessels.

Earlier this year, the shipbuilder launched the first CMES LNG carrier.

Moreover, DSIC signed a deal in August last year to build two LNG carriers for a joint venture consisting of China Gas, Wah Kwong Maritime Transport, and CSSC Shipping.

The three firms ordered two more LNG carriers at DSIC in April this year.

Including these Cosco Shipping Energy Transportation vessels, the shipbuilder now has 17 LNG carriers on order.

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