Seaspan Corporation (Seaspan) announced a framework agreement on April 2, regarding a strategic cooperation with COSCO SHIPPING Energy Transportation Co., Ltd. (COSCO SHIPPING Energy). The two companies will enhance their collaboration regarding LNG projects.
COSCO SHIPPING Energy specializes in LNG, oil products, and other energy transportation under China COSCO Shipping Corporation Ltd., (COSCO Shipping), and has the largest LNG fleet in China.
According to the Agreement, both companies aim to strengthen their exchange of and collaboration on opportunities regarding LNG investments, LNG projects, LNG transportation, ethane transportation, or other related and mutually beneficial projects.
The partnership will also leverage the strengths and networks of both companies, taking advantage of COSCO SHIPPING Energy’s experience in building, operating, and managing LNG ships. It will also leverage Seaspan’s experience in operating and managing container ships, and the networks and experience in the energy sector.
Bing Chen, Seaspan’s President and Chief Executive Officer, stated:
Seaspan has long standing integrated services with COSCO Shipping in container shipping, and we are proud to carry this partnership forward to opportunities in LNG. We are confident that the combined strengths of both companies will generate significant value in the future