China Energy Shipping Investment (CESI)， a joint venture between COSCO Shipping and Sinopec， is set to order three 175，000 cum LNG carriers worth around $761m.

In a regulatory filing， Sinopec said the Hong Kong-incorporated investment holding company， 51% owned by Shanghai Cosco Shipping LNG， a subsidiary of COSCO Shipping Energy Transportation and 49% owned by its Kantons Investment is building the vessels to facilitate the shipment of US LNG volumes from Venture Global.

The jv， which currently has investments in and operates six 174，000 cu m LNG vessels， plans to finance the $253.6m-per-ship deal via $566.3m project financing and a capital injection of $195.5m by both partners， according to their shareholding.

The ships will most likely be built by Dalian Shipbuilding Industry Company (DSIC) in 2027 and 2028， a shipyard widely tipped for the construction of up to five out of the nine LNG carriers Sinopec has been in the market for. Jiangnan Shipyard is also building a pair of 175，000 cu m units， which will deliver in March and July 2027 on bareboat charter to Shandong Marine Energy for China’s import of LNG from the US.