COSCO Shipping Energy Transportation (CSET) decided to invest in QatarEnergy’s project to build six Q-Max LNG carriers in partnership with Mitsui OSK Lines (MOL).
Through its subsidiary, Shanghai Cosco Shipping LNG Investment, CSET will acquire a 50% stake in each of the six single-ship entities created by MOL in Liberia, as stated in a filing by the state-owned company, listed in both Shanghai and Hong Kong.
Reportedly, the total cost of the six 271,000 cubic meter LNG carriers is approximately Yuan 15 billion ($2 billion), with the single-ship entities contributing a combined equity capital of Yuan 3.8 billion.
These new vessels, ordered by QatarEnergy at Hudong Zhonghua Shipbuilding will be chartered long term to QatarEnergy and are expected to be delivered between 2028 and 2031.
