About COSCO SHIPPING Energy
COSCO SHIPPING Energy is a specialized company under the China Ocean Shipping Group that operates in the energy transportation sector. The company primarily focuses on the transportation of energy resources such as oil and liquefied natural gas, as well as chemical products. It primarily serves the energy sector. It was founded in 2005 and is based in Shanghai, Shanghai.
Latest COSCO SHIPPING Energy News
Sep 25, 2023
COSCO Shipping Energy buys into MOL’s LNG carrier trio September 25, 2023, by Jasmina Ovcina Mandra China’s tanker major COSCO Shipping Energy Transportation Co. revealed that it will take part in the investment and construction of three LNG carriers. COSCO Shipping Energy This endeavor will see COSCO Shipping LNG Investment acquire a 49% stake in three single-ship companies established by Japanese Mitsui O.S.K. The project aims to construct three 174,000 cubic meter LNG carriers at Hudong-Zhonghua with delivery set for 2028. These three vessels were commissioned by MOL in September of the previous year, following their commitment to procure ten similar units. Six of these vessels are slated for charter with CNOOC Gas & Power Group, a subsidiary of China National Offshore Oil Corporation (CNOOC). The estimated total investment for this project is approximately $ 241.07 million per ship. The three newly constructed vessels are set to enter into charter agreements with ENN LNG, a Singapore-based subsidiary of China’s ENN Natural Gas. ENN Natural Gas plays a significant role in China’s natural gas market, supplying approximately 10% of the country’s natural gas needs and operating an LNG terminal in Zhoushan, Zhejiang Province. COSCO holds interests in more than 70 LNG carriers. The resolution was passed with unanimous approval from the company’s board. The board also gave its approval for the financing plan for the construction of two conventional LNG vessels by Shanghai COSCO Shipping Liquefied Natural Gas Investment Co., Ltd., a wholly-owned subsidiary of China COSCO Shipping Energy. The latest deal comes on the heels of a construction contract for two LNG carriers COSCO Shipping Energy and PetroChina signed with Hudong-Zhonghua Shipbuilding. Related Article
COSCO SHIPPING Energy Frequently Asked Questions (FAQ)
When was COSCO SHIPPING Energy founded?
COSCO SHIPPING Energy was founded in 2005.
Where is COSCO SHIPPING Energy's headquarters?
COSCO SHIPPING Energy's headquarters is located at No. 670, Dongdaming Road, Shanghai.