COSCO Shipping Energy Transportation's Subsidiary Orders Six Crude Carriers for 5.75 Billion Yuan

MT Newswires Live11-22

COSCO Shipping Energy Transportation's (HKG:1138, SHA:600026) subsidiary COSCO SHIPPING Energy Transportation (Hainan) agreed to purchase six very large crude carriers from Dalian Shipbuilding Industry Group and China Shipbuilding Trading for 5.75 billion yuan, a Friday Hong Kong bourse filing said.

Under the agreement, Dalian Shipbuilding Industry Group as builder and seller, and China Shipbuilding Trading as a seller, will jointly design, build, launch, equip, and complete the six LNG/methanol dual fuel (ready) very large crude carriers with a maximum deadweight of 307,000 deadweight tonnage at structural draught each priced at 958 million yuan each.

COSCO SHIPPING Energy Transportation (Hainan) will source 77% of the purchase from external financing and the remaining 23% through its own internal financial resources.

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