CIMC Sinopacific Offshore confirms gas carrier resale deal with Pacific Gas

CIMC Sinopacific Offshore confirms gas carrier resale deal with Pacific Gas

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.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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