On November 7, China Merchants announced that it’s wholly-owned subsidiary China Merchants Energy Shipping (CMES) has struck a deal with PetroChina to charter out a pair of liquefied natural gas (LNG) carriers under construction at Dalian Shipbuilding Industry (DSIC).
The announcement disclosed that The Shanghai-listed energy transport unit of China Merchants Group, and PetroChina International Business (Hong Kong) Company Limited, a wholly-owned subsidiary of PetroChina State Affairs, signed a 25-year Long Term Transportation Agreement for two 175,000 cubic meter LNG carriers. The term charter price is determined with reference to the current market rate level of third generation LNG carriers.
CMES has reportedly booked a series of LNG vessels in Dalian Shipbuilding Industry. Two vessels ordered for PetroChina in December last year will be delivered in the second half of 2026.
