Tianjin Marine Pens LoI for Four LNG Carriers

Tianjin Marine Shipping, a subsidiary of Hainan Airlines Group (HNA Group), has signed a letter of intent with Dalian Shipbuilding Industry (DSIC) for the construction of four LNG carriers. The shipper has six months to confirm the order.

The order forms part of the company’s fleet expansion plan announced last year, which includes construction of ten VLCCs (Very Large Crude Carrier) and four LNG carriers.Within the framework of the plan, the company said that it would raise up to USD 1.96 billion to help finance the purchase of fourteen new vessels.

Under the contract, the prices for each vessel range between $200m-$230m. In terms of capacities, the carriers are said to feature from 160,000 cum to 175,000 cum.

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World Maritime News, April 30, 2014, Image:iStock