China Merchants Energy Shipping Co. (601872.SH) announced Tuesday to invest 37.8 million US dollars on its joint venture China LNG Shipping Holdings Ltd (CLNG) to buy another five Arctic LNG transport vessels for its Yamal LNG shipping project.
This came after China Merchants Energy Shipping invested 149.54 million US dollars to fund CLNG to buy six Arctic LNG transport vessels in July 2014. According to the announcement, Greece-base shipping company Dynagas, CLNG and Sinotrans Shipping Ltd will jointly buy these 1.59 billion US dollars worth of ships by a ratio of 49-25.5-25.5.
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