COSCO SHIPPING Energy Transportation:Confirmation of Construction for LNG Dual-Fuel VLCC

COSCO SHIPPING Energy Transportation approved to implement dual-fuel powered technology for one of the company's VLCCs under construction contracted by Dalian Shipbuilding Industry. The company shall increase the investment of usd 6 million on the basis of the original shipbuilding contract.

 

On April 3, COSCO SHIPPING Energy Transportation and Dalian Shipbuilding Industry jointly launched the "World's first LNG dual-fuel VLCC cooperation project". The two sides will jointly promote the use of LNG as the main fuel on VLCC, so as to achieve the green emission reduction target.

 

Earlier, it was reported that a 319,000 DWT VLCC built by Dalian Shipbuilding Industry for COSCO SHIPPING Energy Transportation will be upgraded to an LNG powered vessel. This is one of four 319,000 DWT VLCCs ordered by COSCO SHIPPING Energy Transportation in 2017. The ship will be built in accordance with Tier III standards, which can reduce sulfur emissions by 95%.

 

In November 2017, COSCO SHIPPING Energy Transportation signed a contract for the construction of four 319,000 dwt VLCCs and three 158,000 dwt Suezmax Crude Carriers with Dalian Shipbuilding Industry, with a total price of approximately 3.67 billion yuan. Four VLCCs are expected to be delivered by August 2020 to March 2021, and three Suez tankers are expected to be delivered by August 2020 to January 2021.

 

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