Hong Kong-based energy group Fortune Oil has signed shipbuilding contracts with CSSC-affiliated Jiangnan Shipyard for the construction of two 84,000 cu m VLGCs.
The contract is under a financial leasing arrangement with CSSC Shipping, the financial leasing arm of state-run shipbuilding conglomerate, CSSC.
The two vessels, which marks Fortune Oil’s entry into the VLGC sector, will be operated by a shipping joint venture between Fortune Oil and China Gas Holdings, China’s largest integrated gas services operator. The other contract details were not disclosed.
Fortune Oil mainly focuses on investments and operations in oil and gas supply and infrastructure projects. It is one of the major shareholders of China Gas Holdings, after it sold its China natural gas business to the latter in 2013.