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Fortune Oil orders VLGC pair at Jiangnan Shipyard

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.

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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