COSCO Nets LNG Vessel Order in China

COSCO Corporation (Singapore) said that COSCO (Dalian) Shipyard, a subsidiary of the company’s 51% owned unity, COSCO Shipyard Group, has secured a contract valued over RMB500 million from a Chinese ship owner to build one 28,000 CBM LNG Vessel.

The vessel is scheduled for delivery in the first quarter of 2015.

The contract is not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2013, COSCO said in a statement.

1 Chinese Yuan equals 0.16 US Dollar

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LNG World News Staff, May 21, 2013; Image: COSCO