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China's three central SOEs jointly signed the "LNG Ship Chartering Cooperation Principles Agreement"

On June 28, at the Green Shipping & Financial Leasing Exchange Conference in the Greater Bay Area, COSCO SHIPPING, PetroChina, and CSSC once again joined hands to explore a new model for the development of China's LNG industry chain through the strong combination of "large cargo owners, large shipowners and large shipyards".
As one of the highlights of the meeting, COSCO SHIPPING Energy Transportation, PetroChina International and CSSC Shipping jointly signed the "LNG Ship Chartering Cooperation Principles Agreement", intending to use the new model of bareboat charter + time charter to enhance the cooperation between central enterprises.
 
COSCO SHIPPING, PetroChina, and CSSC have a history of cooperation for many years, and have successfully developed 6 LNG ship transportation projects.
Over the years, COSCO SHIPPING Energy has participated in the investment and operation of 38 LNG ships of 6.421 million m3, ranking sixth among the world's LNG shipowners, and holds 11 newbuilding orders of 174,000 m3 LNG ships. 
 
In 2021, China will import 78.93 million tons of LNG, surpassing Japan and ranking first in the world. Among them, COSCO SHIPPING Energy will carry about 18.618 million tons of LNG, accounting for 23.6%, and will continue to play a strategic supporting role for the fleet of China.
 
The official signing of this cooperation agreement marks that the three central SOEs will play a new role in supporting the strategy of "building the Guangdong-Hong Kong-Macao Greater Bay Area" and contribute to the global green, low-carbon and sustainable development!
 
Source: Xinde Marine News Sarah Yu


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