Specifically, COSCO Shipping and its China National Petroleum International Company became the latest companies to demonstrate their faith in the LNG market by placing construction contracts for more LNG vessels.

The ordered vessels will have a length of 295 meters with a speed of 19.5 knots.

The three LNG vessels will be part of the Hudong Zhonghua's fourth-generation "Changxing Series" large-scale LNG carrier design, and a new generation of LNG vessels independently developed and designed for Hudong Zhonghua.

The company reported that the vessels will further optimize the designs of the previous LNG ships.

Overall, Shanghai COSCO Shipping LNG Investment Co. will operate the vessels, increasing the transportation capacity for the China National Petroleum International Co.