China Shipping Development Order LNG Ships

March 21, 2013

China Shipping Development Co. to order six liquefied natural gas (LNG) to tap the nation’s rising demand for cleaner fuel.

The addition of the tankers comes as the world’s largest energy consumer plans to more than double natural gas consumption to cut its dependence on coal and oil. The six-tankship purchase will be made by a venture owned by China Petrochemical Corp., also known as Sinopec Group, China Shipping and Mitsui O.S.K Lines Ltd. (9104) and each ship will have a capacity to carry 174,000 cubic meters of natural gas. reports Bloomberg.

Bloomberg was informed by Chief Financial Officer Wang Kangtian that the vessels will cost about $205 million each and the shipping company has arranged syndicated loans to finance the deal.

Source: Bloomberg
 

Logistics News

Guinea Exports Record 48.6 Million Tons of Bauxite

Guinea Exports Record 48.6 Million Tons of Bauxite

ASRY Hosts First Innovation Forum with Lumofy

ASRY Hosts First Innovation Forum with Lumofy

Osbit Opens New Offshore Wind Facility in Port of Blyth

Osbit Opens New Offshore Wind Facility in Port of Blyth

Red Sea Bypass Contributed to Containers Lost in 2024

Red Sea Bypass Contributed to Containers Lost in 2024

Subscribe for Maritime Logistics Professional E‑News

As Europe suffers from an early summer heatwave, thousands of people have fled to Turkey
Planning ministry: Egypt's economy will grow by 4.77% during Q3 2024/25
Meta, TikTok may be sued by the mother of a NYC teen who was killed while "subway surfing"