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COSCO adds its first VLGC with Tianjin Southwest deal

Photo of Grant Rowles Grant RowlesOctober 31, 2022
348 Less than a minute
Tianjin Southwest Shipping

Chinese shipowning giant COSCO has acquired 2016-built 83,000 cu m VLGC Gas Aries from compatriot Tianjin Southwest Shipping.

COSCO Shipping Energy Transport (CSET) has acquired the vessel for an undisclosed price, according to brokers Advanced Shipping & Trading and pricing portal VesselsValue, which places a fair market price of $66.37m on the ship.

The Jiangnan Shipyard-built vessel is the first VLGC in the CSET fleet, and joins a fleet of seven fully pressurised LPG carriers and 135 tankers.

For Tianjin Southwest Shipping, the sale leaves the company with three VLGCs in its fleet of 21 vessels. The company has a further five VLGCs on order at Jiangnan, three of which are scheduled for delivery before year-end.

Photo of Grant Rowles Grant RowlesOctober 31, 2022
348 Less than a minute
Photo of Grant Rowles

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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