An indirect wholly-owned subsidiary of Cosco Shipping Energy Transportation has entered into a significant shipbuilding contract.

The subsidiary, acting as the buyer, has signed agreements with Jiangnan Shipyard for the construction of four liquefied natural gas carriers.

Each vessel will have a capacity of 175,000 cubic meters, with the total investment for the project amounting to 6.445 billion yuan.

The newbuilds are scheduled for delivery between 2029 and 2030.

Key Strategic Rationale

The company views this order as a crucial strategic move aligned with national energy security objectives.

It is designed to enhance the structure and investment footprint of the company's LNG fleet while capitalizing on favorable market conditions.

Expected Benefits and Outcomes

This transaction is expected to significantly strengthen and expand the operational scale of the group's LNG shipping business.

It aims to boost the company's independent marketing and operational capabilities, solidifying its international strategic positioning.

The investment is consistent with the company's long-term development strategy and is intended to benefit all shareholders.

Cosco Shipping Energy Transportation Co.,Ltd. (SHA: 600026)

The company's subsidiary has committed to this major capital expenditure for fleet expansion in the LNG shipping sector.