Dynagas, CLNG and Sinotrans finalise deal for five Yamal LNG carriers

Dynagas, CLNG and Sinotrans finalise deal for five Yamal LNG carriers

Dynagas, CLNG and Sinotrans have announced the finalisation of a series of agreements for five single-vessel joint ventures to jointly invest in five Arctic LNG carriers for the Yamal LNG project.

According to the plan, Dynagas, CLNG and Sinotrans Shipping will own 49%, 25.5% and 25.5% of each vessel respectively. The total price for the vessels, to be built at Korea’s Daewoo Shipbuilding, is around $1.59bn with deliveries expected from November 2017 through to March 2019.

Time charter guarantees have been executed with Yamal, at $19.2m per month per vessel, running through to  December 31 2045. Jamal also has two further five year options.

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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