COSCO Shipping Energy Transportation (CSET) has set out to expand its fleet with LNG carrier newbuilds at Dalian Shipbuilding Industry Co (DSIC).
The listed oil and gas shipping arm of COSCO Shipping Group has approved the construction of two 175,000 cu m vessels worth around $254.6m each through its subsidiary COSCO Shipping LNG Investment.
COSCO’s energy shipping business sports a fleet of over 150 crude and product tankers and has stakes in some 70 LNG carriers.
Last year, the company, via its joint venture with fellow oil and gas player Sinopec, commissioned DSIC to build three LNG ships delivering in 2027 and 2028. Delivery details for the latest two newbuilds have yet to be revealed.