Brokers: Fortune Oil Invests in LPG Pair

Illustration; Image Courtesy: Fortune Oil

Hong Kong-headquartered Fortune Oil has placed an order for two very large gas carriers with Chinese shipbuilder Jiangnan Shanghai Changxing Heavy Industries, data from VesselsValue shows.

The two 84,000 cbm LPG carriers are slated for delivery in 2020 and are priced at USD 68 million each.

Fortune Oil has no live vessels in its fleet and the order marks its entry into the VLGC sector.

CSSC Shipping is said to be providing financial leasing for the deal. Further details of the contract were not disclosed.

Owned by Fortune Dynasty Holdings Limited, Fortune Oil focuses on investments and operations in oil and gas supply and infrastructure projects in China.

Based on its orderbook details, Jiangnan Shanghai Changxing Heavy Industries will be kept busy this year as it has to deliver 19 ships to their owners, including ten 14,500 TEU containerships owned by COSCO Shipping Lines Co.

The shipbuilder has 25 newbuildings in its orderbook, counting the latest LPG duo from Fortune Oil, VesselsValue’s data shows.

The deliveries of the remaining newbuildings are spread across 2019 and 2020.

World Maritime News Staff

 

 

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