First LNG Carrier Delivered for Sinopec Project
- Business & Finance
The first in a series of six liquefied natural gas (LNG) carriers, the CESI Gladstone, ordered by the joint venture of China COSCO Shipping Corporation Limited (China COSCO Shipping) and China Petroleum & Chemical Corporation (Sinopec), was delivered on October 31.
Featuring a length of 290 meters and a width of 45.6 meters, the carrier was built by China’s Hudong-Zhonghua Shipbuilding.
With a cargo tank capacity of 174,100 cbm, CESI Gladstone will sail under a long-term charter contract to transport LNG that Sinopec will purchase from the Australia Pacific LNG Project.
Starting with the CESI Gladstone, a total of six newbuilding LNG carriers will be delivered from this year through 2018.
Sinopec and China COSCO Shipping hold 80% of the joint venture, while the remaining 20% is held by Japan’s shipping company Mitsui O.S.K. Lines (MOL).