COSCO Orders Four LNG Carriers Worth USD 953 Million to Expand LNG Fleet

COSCO Shipping Energy is continuing to accelerate its expansion into the liquefied natural gas (LNG) shipping sector after signing contracts for the construction of four new LNG carriers with a combined value of approximately USD 953 million.

The move marks another significant milestone in the company’s LNG fleet development strategy, amid continued growth in global LNG trade and transportation demand.

Four New 175,000 m³ LNG Carriers Ordered

COSCO Shipping Energy, the Shanghai-listed energy transportation arm of China's COSCO Shipping Group, announced that its indirect subsidiary, Future Ocean LNG Investment, has signed a shipbuilding contract with Jiangnan Shipyard for the construction of four LNG carriers, each with a cargo capacity of 175,000 cubic meters.

The vessels are scheduled for delivery between 2029 and 2030.

According to COSCO Shipping Energy, the investment will help expand its LNG fleet, strengthen operational capabilities, and further develop its independent LNG shipping business, while supporting the company’s long-term growth strategy in response to increasing global LNG transportation demand.

Newbuildings Expected to Support Long-Term Charters with Shell

According to market observers, the four new LNG carriers are likely to be deployed under long-term charter agreements with Shell.

The practice of ordering LNG carriers backed by long-term charter contracts has become increasingly common across the industry, allowing shipowners to mitigate market risks and secure investment returns from the early stages of a project.

COSCO Accelerates Expansion of Its LNG Shipping Business

The new order further reinforces COSCO Shipping Energy’s growing presence in the LNG transportation sector.

Although the company is best known for operating a fleet of more than 150 crude oil and product tankers, it has steadily expanded its gas shipping activities in recent years through both direct ownership and strategic joint ventures.

Within its current LNG portfolio, COSCO Shipping Energy is working alongside Japanese shipping company MOL (Mitsui O.S.K. Lines) on several LNG carrier projects supporting QatarEnergy’s large-scale LNG export expansion program.

Jiangnan Shipyard Continues to Benefit from LNG Shipbuilding Boom

The latest contract further highlights Jiangnan Shipyard’s increasingly important role in the current LNG shipbuilding cycle.

Since the beginning of the year, the Chinese shipyard has secured at least ten LNG carrier newbuilding contracts.

Earlier in January, Singapore-based shipowner Eastern Pacific Shipping selected Jiangnan Shipyard to build two LNG carriers.

During the same month, Jiangnan also won an order from Minsheng Financial Leasing for four additional LNG carriers. These vessels are scheduled to operate under long-term charter agreements with Shell Singapore, with Shandong Marine Energy serving as the commercial manager and Shell responsible for technical management.

The series of large-scale contracts secured in recent months demonstrates that Jiangnan Shipyard is emerging as one of the shipbuilders benefiting most significantly from the latest wave of global investment in LNG carrier fleets.

As global LNG demand continues to expand and energy transition initiatives gain momentum, both shipowners and shipbuilders are expected to maintain strong investment activity in LNG transportation assets over the coming years.

See more:

• Dry Bulk Shipping Market: Capesize Leads the Rally
• International Shipping and Logistics Market Update Week 22/2026 | Phaata
• Global Container Shipping Schedule Reliability Reaches Highest Level of 2026 So Far
• Global Container Freight Rates Face Renewed Upward Pressure
• WorldACD Report: Global Air Cargo Volumes and Rates Slowly Establish a New Equilibrium
• Sea-Intelligence Q1 2026 Report: Ocean Carriers' Operating Profits Decline Sharply Under Freight Rate Pressure
• COSCO SHIPPING North America Named AgTC’s 2026 Recognized Ocean Carrier
• COSCO schedules: Vietnam - North America in Jun 2026
• COSCO updates Vietnam-Intra Asia sailing schedules in Jun 2026
• COSCO updates Vietnam-North Europe sailing schedules in Jun 2026
• SITC updates Vietnam-Intra Asia sailing schedules in Jun 2026
• Hapag-Lloyd Reports Q1 2026 Loss as Maersk Continues Avoiding the Strait of Hormuz Over Security Risks
• CMA CGM Maintains Resilient Performance in Q1 2026 Amid Geopolitical and Global Supply Chain Disruptions
• CMA CGM Deploys Largest French-Flagged LNG Container Ship on Asia–Europe Trade Lane

Source: Phaata.com (According to Splash247)

► Find Better Freight Rates & Logistics Service Providers!