CESI Qingdao Ready for Sinopec LNG Project

The joint venture group behind the China FOB Transportation project took delivery of the liquefied natural gas (LNG) carrier CESI Qingdao from China’s Hudong-Zhonghua Shipbuilding on January 6.

The joint venture of Japan’s Mitsui O.S.K. Lines (MOL), China COSCO Shipping Corporation Limited (China COSCO Shipping) and China Petroleum & Chemical Corporation (Sinopec) teamed up to construct and manage six LNG carriers in April 2013.

The 174,100m3 CESI Qingdao is the second vessel in the series to be delivered and will sail under a long-term charter to transport LNG that Sinopec purchases from the Australia Pacific LNG project.

The first vessel, the CESI Gladstone, was delivered at the end of October, 2016.

The remaining four carriers will be delivered in succession by 2018. All six LNG carriers will be built by Hudong-Zhonghua.

MOL controls a 20% stake in China Energy Ship Management Co., Limited, the company that owns and manages the six LNG carriers.

The remaining 80% stake in the company is held by China Energy Shipping Investment Co., Limited (CESI), a joint venture of China COSCO Shipping (51%) and Sinopec (49%).