Cosco Shipping Energy Secures Board Nod for VLGC Vessel Delivery Financing

Deep News

Sep 11

COSCO SHIP ENGY (01138.HK; 600026.SH) announced on September 10 that its twelfth board meeting of 2026 has given the green light to a financing plan tied to the delivery of two new VLGC carriers.

In an overseas regulatory filing and a board resolution statement, the company confirmed approval of the proposal concerning delivery financing for the 1st and 2nd vessels under the Dalian LPG newbuild project, which covers a 2+2 order of 88,000-cubic-meter VLGCs. The approved scheme specifically addresses the capital arrangements for the first two ships as they enter the handover phase, a step that has now cleared the board-level review.

VLGC, short for Very Large Gas Carrier, typically refers to ocean-going vessels designed to transport liquefied petroleum gas and similar cargo. At 88,000 cubic meters, these units sit firmly in the large-capacity segment of the VLGC fleet, underscoring the scale of the investment.

The 2+2 order structure signals that Cosco Shipping Energy Transportation Co.,Ltd. continues to expand its liquefied gas shipping lineup, reinforcing its strategic push to deepen its presence in this specialized maritime segment.

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The approved scheme specifically addresses the capital arrangements for the first two ships as they enter the handover phase, a step that has now cleared the board-level review.<br><br>VLGC, short for Very Large Gas Carrier, typically refers to ocean-going vessels designed to transport liquefied petroleum gas and similar cargo. 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