The COVID-19 outbreak has had a huge impact on the natural gas industry chain. The order of eight CNG vessels worth nearly 8 billion yuan has been delayed by the ship owners.
On June 30, CNG company GlobalEnergy Ventures (GEV) announced that it has postponed the letter of intent to build four CNG vessels from CIMC Raffles for another six months until December 31, 2020.
GEV and CIMC Raffles signed a letter of intent in July 2019 to build 4+4 96,000 m3 CNG vessels. Each CNG vessel is expected to cost about $135m - $140m. If all alternative orders are confirmed, the eight CNG ships will have a total value of up to $1.12 billion.
As requested, the CNG vessels will be designed, purchased, built, tested and delivered by CIMC Raffles. The first CNG ship will be delivered within 30 months of the signing of the construction contract and the remaining three will be delivered every four months after the first delivery.
In January, GEV had delayed the CNG ship order by six months to June 30, 2020. GEV has now pushed the order to the end of the year. However, GEV said the $135m - $140m cost per vessel was unchanged and the delivery schedule remained 30 months.
Source: Sarah Yu, XINDE MARINE NEWS
On June 30, CNG company GlobalEnergy Ventures (GEV) announced that it has postponed the letter of intent to build four CNG vessels from CIMC Raffles for another six months until December 31, 2020.
GEV and CIMC Raffles signed a letter of intent in July 2019 to build 4+4 96,000 m3 CNG vessels. Each CNG vessel is expected to cost about $135m - $140m. If all alternative orders are confirmed, the eight CNG ships will have a total value of up to $1.12 billion.
As requested, the CNG vessels will be designed, purchased, built, tested and delivered by CIMC Raffles. The first CNG ship will be delivered within 30 months of the signing of the construction contract and the remaining three will be delivered every four months after the first delivery.
In January, GEV had delayed the CNG ship order by six months to June 30, 2020. GEV has now pushed the order to the end of the year. However, GEV said the $135m - $140m cost per vessel was unchanged and the delivery schedule remained 30 months.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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