COSCO Shipping Energy Transportation (CSET),the consortium of the Cosco group operating in the gas and oil transportation sector , has ordered the construction of three LNG carriers from the Hudong-Zhonghua Shipbuilding yards.
The contract is worth $555 million (185 million per unit). The first ship will be delivered on 31st October 2022, the other two deliveries are scheduled for January and April 2023. The new vessels will be operated by a joint venture between CSET and state giant PetroChina.
The maxi order will allow Cosco’s company to expand its fleet of LNG carriers and acquire increasing traffic shares in a trade in continuous development. At the moment, CSET owns 38 LNG carriers, all engaged in long-term contracts.
Today Beijing is one of the main importers of Liquefied Natural Gas: in 2019 the imported volumes grew by 12.2% to 60.3 million tonnes.
Translation by Giles Foster