News

Jiangnan Shipyard bags $470m order for LNG duo

2023-03-29
1015

China’s Jiangnan Shipyard has been contracted to build a pair of liquified natural gas carriers in a deal worth $470m.

China Taiping Insurance Holdings confirmed the deal in Hong Kong Exchange filing which included its non-wholly owned subsidiary Taiping & Sinopec Financial Leasing (TSFL) and its two special purpose vehicles Taiping 26 and Taiping 27.

The 175,000 cum ships will deliver in March and July 2027 and will be bareboat chartered to Singapore’s Shandong Marine Energy (SDME) for 15 years for an estimated price of $632m and with a purchase option included.

According to the filing, if the purchase options are not exercised, SDME or the final charterer will need to pay a total of $80m at the end of the charters.

Source:Splash247.com