China Merchants fixes two LNG newbuilds to PetroChina

Source:Splash247.com
2023.11.09
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China Merchants Energy Shipping (CMES) has struck a deal with compatriot energy giant PetroChina to charter out a pair of liquefied natural gas (LNG) carriers under construction at Dalian Shipbuilding Industry (DSIC).

The Shanghai-listed energy transport unit of China Merchants Group has fixed the 175,000 cum units to the listed arm of state-owned China National Petroleum Corporation (CNPC) for 25 years.

CMES has a series of LNG ships booked at Dalian. The duo earmarked for PetroChina was ordered last December for delivery in the second half of 2026.

PetroChina has several import deals in place with LNG players, including Houston-headquartered Cheniere Energy for 1.8 mtpa of liquefied gas on a free-on-board basis. These deliveries are expected to start in 2026, reach the full 1.8 mtpa in 2028, and continue through 2050.

Earlier this year, COSCO Shipping and PetroChina joint venture firm United Liquefied Gas Shipping tapped CSSC-affiliated Hudong-Zhonghua Shipbuilding for two additional 174,000 cu m ships to serve PetroChina’s trade needs from 2026.

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