GasGreater China
CLNG, Dynagas and Sinotrans Shipping to jointly invest in LNG carriers
China Merchants Energy Shipping (CMES) has announced that the board has approved its subsidiary CLNG to invest in five Arctic LNG carriers and the company will also replenish $37.8m capital into CLNG to support the deals.
According to the plan, the five vessels will be jointly invested by Dynagas (49%), CLNG (25.5%) and Sinotrans Shipping (25.5%). Total price of the vessels is about $158.7m.
In the meantime, CMES said it will replenish $149.5m capital into its newbuild project with Teekay for six LNG carriers, which will serve the Yamal LNG project. The deal was signed in July 2014.
CLNG was co-estbliahsed by CMES and Cosco Dalian, it currently owns six LNG carriers and another six on orderbook.