https://www.imarinenews.com/16858.html

On November 22, Dalian Shipbuilding Industry Corporation (DSIC), a subsidiary of China State Shipbuilding Corporation (CSSC), finalized a major contract with COSCO SHIPPING Energy Transportation. The agreement, jointly signed with China Shipbuilding Trading Co., Ltd. (CSTC), involves the construction of six 307,000 DWT very large crude carriers (VLCCs). The deal, valued at over RMB 5.7 billion (approximately $787 million), will be settled entirely in RMB, reflecting a significant milestone in domestic maritime trade.

The project stems from a resolution announced during COSCO SHIPPING Energy Transportation’s 13th board meeting on November 12, 2024. According to this decision, the company’s subsidiary, COSCO SHIPPING Energy Transportation Hainan, entered into six construction contracts with DSIC and CSTC as joint sellers. The total cost for the six VLCCs, inclusive of taxes, is RMB 5.748 billion, with each vessel priced at RMB 958 million.

This agreement underscores DSIC’s expertise in delivering high-capacity, technologically advanced vessels and marks an important expansion for COSCO SHIPPING’s fleet. It also demonstrates a growing emphasis on localized settlement and collaboration within China’s shipbuilding and energy transportation sectors. Delivery timelines and additional project details are yet to be disclosed.

https://www.imarinenews.com/16858.html

On November 22, Dalian Shipbuilding Industry Corporation (DSIC), a subsidiary of China State Shipbuilding Corporation (CSSC), finalized a major contract with COSCO SHIPPING Energy Transportation. The agreement, jointly signed with China Shipbuilding Trading Co., Ltd. (CSTC), involves the construction of six 307,000 DWT very large crude carriers (VLCCs). The deal, valued at over RMB 5.7 billion (approximately $787 million), will be settled entirely in RMB, reflecting a significant milestone in domestic maritime trade.

The project stems from a resolution announced during COSCO SHIPPING Energy Transportation’s 13th board meeting on November 12, 2024. According to this decision, the company’s subsidiary, COSCO SHIPPING Energy Transportation Hainan, entered into six construction contracts with DSIC and CSTC as joint sellers. The total cost for the six VLCCs, inclusive of taxes, is RMB 5.748 billion, with each vessel priced at RMB 958 million.

This agreement underscores DSIC’s expertise in delivering high-capacity, technologically advanced vessels and marks an important expansion for COSCO SHIPPING’s fleet. It also demonstrates a growing emphasis on localized settlement and collaboration within China’s shipbuilding and energy transportation sectors. Delivery timelines and additional project details are yet to be disclosed.

https://splash247.com/cosco-in-for-lng-newbuild-brace-at-dalian/

COSCO Shipping Energy Transportation (CSET), a prominent entity within the COSCO Shipping Group specializing in oil and gas transportation, has embarked on a strategic expansion of its fleet. The company has sanctioned the construction of two liquefied natural gas (LNG) carriers, each with a capacity of 175,000 cubic meters, at Dalian Shipbuilding Industry Co (DSIC).

The total investment for these newbuilds is estimated at approximately $254.6 million per vessel. This initiative is managed through COSCO Shipping LNG Investment, a subsidiary of CSET. The new LNG carriers represent a significant enhancement to CSET’s capabilities in the energy transportation sector, aligning with its broader strategic objectives to bolster its fleet and meet the growing demands of the global LNG market.