Cosco to fund QatarEnergy LNG carriers

The company has approved is wholly-owned subsidiary, Cosco Shipping LNG Investment (Shanghai) to jointly invested in the second phase project of Qatar Energy, which will purchase 50% stakes of six singe-vessel companies established by Japanese owner MOL to build six QC-Max LNG carriers together.  

The QC-Max vessels, which will be built at China's Hudong-Zhonghua Shipyard, are the largest LNG vessels ever built with a capacity of 271,000 cu meters each. 

Cosco Shipping Energy Transportation said that with enhanced fuel efficiency and reduced emissions, the vessels are engineered to meet the highest safety and environmental standards, representing a significant advancement in sustainable innovation.

Meeting the long-term transportation demands of Qatar Energy, the six LNG carrier’s investment will further improve the company’s profitability, the company commented.

Courtesy: Seatrade Maritime News