COSCO SHIPPING Energy has ordered four 175,000 m³ LNG carriers from Jiangnan Shipyard under a contract worth RMB 6.4 billion, or about $953 million.
The agreement was signed on 2 June 2026 through Future Ocean LNG Investment, an indirectly wholly owned subsidiary of COSCO SHIPPING Energy. The four vessels are scheduled for delivery between 2029 and 2030.
The company said the order supports China’s energy strategy while improving the structure of its LNG fleet and investment portfolio. It also expects the new buildings to expand LNG transport capacity, strengthen independent marketing and operating capability, and support its international business position.
The investment plan was approved on 26 May 2026 at the company’s eighth board meeting of 2026. Under the structure, COSCO SHIPPING Energy will inject RMB 2.1 billion into Shanghai COSCO SHIPPING LNG Investment, which will then provide the same amount to Future Ocean LNG Investment.
Four wholly owned single-ship companies will be established to carry out the project. These entities will commission Jiangnan Shipyard to build the LNG carriers, with total investment set at RMB 6.4 billion.
After delivery, the four vessels will be chartered to Shell Tankers (Singapore) Private Limited under seven-year time charter agreements, with charterer options. Total charter hire over the term is expected to reach about RMB 5.4 billion, equivalent to about $799 million.
COSCO SHIPPING Energy said Jiangnan Shipyard was selected through competitive bidding and negotiations. The yard’s final price was lower than offers from other shipbuilders, while key terms, including delivery timing, were considered more favorable.
The latest order adds to Jiangnan Shipyard’s LNG carrier backlog in 2026. Excluding this contract, the yard had already announced six 175,000 m³ LNG carrier orders this year, including two vessels for Eastern Pacific Shipping and four vessels linked to Minsheng Financial Leasing, Shell Singapore, Shandong Marine Energy, and Shell International Shipping.
