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(8th paragraph updated with cost and delivery details)
China State Shipbuilding Corporation (CSSC) is set to construct 18 of the world’s largest ultra-large carriers for QatarEnergy to transport liquefied natural gas (LNG).
The state-backed Chinese conglomerate signed a contract for building 18 LNG tankers with QatarEnergy in Beijing, China Daily newspaper reported, citing a CSSC statement.
The contract was signed by QatarEnergy President and CEO Saad Al-Kaabi and CSSC Chairman Wen Gang.
The Q-Max class LNG carriers have been designed by Hudong-Zhonghua Shipbuilding, a CSSC subsidiary in Shanghai.
Construction of the vessels will commence at the Shanghai shipyard, the news report said.
Each carrier will be 344 metres long, 53.6 metres wide and have a draft of 12 metres with a capacity of 271,000 cubic metres, 57 percent more than a regular LNG carrier.
Currently, the world's largest LNG carriers are Qatar's Q-Max vessels, with carrying capacities from 263,000 to 266,000 cubic metres of LNG.
QatarEnergy said in a separate press statement that with a total value of almost $6 billion, the agreement is the industry’s largest single shipbuilding contract ever. Eight of the 18 QC-Max size LNG vessels will be delivered in 2028 and 2029, while the other ten will be delivered in 2030 and 2031.
QatarEnergy also signed long-term time charter party (TCP) agreements with three ship owners for the operation of 9 of these LNG vessels by affiliates of China Merchants Group, Shandong Marine Group, and China LNG Shipping (Holdings) Limited.
Last month, QatarEnergy announced the signing of TCP agreements for a total of 104 conventional-size vessels (174,000 cubic meters) constituting the largest shipbuilding and leasing program ever in the history of the industry.
In February 2024, Qatar Gas Transport Company (Nakilat) had announced that it has been selected by QatarEnergy as the owner and operator of up to 25 conventional size LNG carriers pursuant to Time Charter Parties to be entered into by affiliates of QatarEnergy and Nakilat. A press statement had said the LNG carriers, each with a capacity of 174,000 cubic metres, are scheduled for construction in Korean shipyards, and constitute part of QatarEnergy’s LNG Fleet Expansion Project.
Read more: QatarEnergy picks Nakilat to operate 25 newbuild LNG vessels
QatarEnergy enters time charter agreements with Nakilat for the operation of 25 LNG vessels
(Writing by P Deol; Editing by Anoop Menon)
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