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 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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