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CIMC Sinopacific Offshore confirms gas carrier resale deal with Pacific Gas

CIMC Sinopacific Offshore confirms gas carrier resale deal with Pacific Gas

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Pacific Gas, a subsidiary of China’s Shandong Shipping, has entered into a contract with CIMC Sinopacific Offshore & Engineering for a total of five resale LEG carriers.

An official at CIMC Sinopacific Offshore confirmed to Splash that the contract which includes three 22,000 cu m LEG carriers and two 17,000 cu m LEG carriers were signed in July this year. Total value of the contract is over RMB1bn ($152m).

Norwegian owner Odfjell cancelled a total of eight gas carriers at Sinopacific in 2016, comprising of four 17,000 cu m vessels and four 22,000 cu m vessels due to delay in delivery and Greek owner Eletson Gas also cancelled five 22,000 cu m gas carriers at the shipyard.

Sinopacific Offshore resumed operations in August following it entered into a new restructuring investment agreement with China International Marine Containers.

Currently construction of the vessels have resumed, with deliveries scheduled in 2018 and 2019.

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Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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