CSD Eyes Three LNG Carriers

Shanghai-listed China Shipping Development (CSD) has confirmed that its Board of Directors has decided to order three LNG carriers.

The official contracts with the shipbuilder of these three vessels will be signed later this month.

The LNG carriers are envisaged to work on Russia’s Yamal LNG project.

The three newbuildings will be ordered via CSD’s three 50% controlled single vessel subsidiaries that will be the owners of the individual vessels. The subsidiaries form part of a partnership between CSDC’s China Shipping LNG and Japan’s Mitsui OSK Lines (MOL).

CSD will secure guarantees for the contracts amounting to a total of USD 490 million.

World Maritime News Staff, July 1, 2014

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