China Shipping Development’s venture plans to order six LNG tankers worth about $1.2 billion by June, Bloomberg reported, citing the company’s chairman Li Shaode as saying.
“ We will expand LNG transportation business to make it become a new profit growth driver as soon as possible ,” he said.
“ The deal means a 20-year shipping contract for us, which will bring us stable earnings, ” he added.
The vessel purchase will be made by a venture owned by Sinopec Group, China Shipping and Mitsui O.S.K Lines and each tanker will have a capacity to carry about 174,000 cbm.
Hudong Zhonghua Shipbuilding will build the LNG tankers.
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LNG World News Staff, March 21, 2013; Image: Hudong Zhonghua Shipbuilding