PRC shipping company in JV acquires four LNG vessels

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    China Shipping Development Company (CSD) and Japan-based Mitsui OSK Lines (MOL) have entered into a joint venture to acquire, finance and time charter…

    China Shipping Development Company (CSD) and Japan-based Mitsui OSK Lines (MOL) have entered into a joint venture to acquire, finance and time charter long-term four liquefied natural gas carriers with a combined value of up to US$1 billion. The ships will be built by Hudong-Zhonghua Shipbuilding Group, a subsidiary of China State Shipbuilding Corporation.

    These ships will be the first LNG vessels to be built for MOL and CSD in China and they are expected to be delivered in 2015 and 2016.

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