On August 10, China Merchants Energy Shipping announced that it plans to increase the capital of CLNG by 61.7 million US dollars for the joint venture invested and established by CLNG to build seven new 174,000 m3 membrane-type LNG carriers. The vessels were used for the long-term time charter agreement signed with Qatar Energy.
The announcement stated that CLNG's investment in this project is in line with the company's strategy of vigorously developing clean energy transportation business and the 14th Five-Year Strategic Plan, which is conducive to expanding business on the basis of obtaining stable income.
CLNG is a 50-50 joint venture between CMES and COSCO SHIPPING Energy. Two parties will jointly increase capital to CLNG in batches in the same proportion according to the specific progress, with an estimated amount of 61.7 million US dollars each. After the capital increase is completed, the shareholding ratio of both parties will remain unchanged.
By the end of 2021, CMES had 21 LNG ships with a capacity of 1,655,600 DWT through CLNG and its direct equity.
Source: Xinde Marine News Sarah Yu
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