Greater China

Shandong Shipping to order 6 VLGC newbuilds

Dalian: Shandong Shipping will shortly confirm six 83,000 cu m VLGCs at Jiangnan Shipyard as it looks to further expand in the gas shipping market. The estimated price for each vessel is over $70m.

A source from Jiangnan Shipyard confirmed with SinoShip News that the two companies have been negotiating over the deal for a while but didn’t give an exact signing date.

Shandong current has a fleet of three second hand VLGCs, acquired in 2013. Jiangnan Shipyard is currently the only VLGC builder in China and it will deliver its first VLGC by the end of this year. [17/01/14]

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