China's Hudong-Zhonghua Shipbuilding has signed a contract with the joint venture of Japan’s Mitsui OSK Lines (MOL) and China Shipping Development to build four 172,000 CBM liquefied natural gas (LNG) carriers worth about $1 billion.

It is the first major LNG export orders for the yard. It is reported that the vessels are supposed to cost about $200-250m apiece with a total value of $1bn.

It is said that two of the ships will be operated by MOL and East China LNG Shipping Investment, while the other two by MOL and North China LNG Shipping Investment.