Chinese shipyards secure order for 24 of the world's largest vessels! Qatar's '100-ship plan' concludes

Qatar's ambitious “ Hundred Ships Plan ” Total 128 vessels LNG ship orders have all been confirmed by the shipowners. COSCO SHIPPING Energy will jointly invest with Mitsui O.S.K. Lines to build the final 6 vessels, the world's largest 27.1 cubic meters LNG vessels, while Hudong-Zhonghua has undertaken all 24 vessels, the world's largest LNG vessels.

12 Month 9 Day, COSCO SHIPPING Energy held its 2024 14th Board Meeting of the year, reviewing and approving "Regarding Shanghai COSCO SHIPPING LNG and MOL joint investment in the construction of QatarEnergy Phase 2 6 vessels 27.1 cubic meters Q-Max type LNG vessels' proposal", agreeing that its wholly-owned subsidiary, Shanghai COSCO SHIPPING LNG Investment Co., Ltd. (Shanghai COSCO SHIPPING LNG ) will participate in the investment of the QatarEnergy Phase 2 project plan.

According to the announcement, Shanghai COSCO SHIPPING LNG will acquire through its wholly-owned Hong Kong subsidiary, Yuanhai LNG Investment Co., Ltd. (Yuanhai LNG ) from Mitsui O.S.K. Lines ( MOL ) in Liberia, the wholly-owned 6 single-ship companies, each 50% shares. This 6 single-ship company, as the investment entity, built 6 vessels 27.1 cubic meters Q-Max type LNG vessels at Hudong-Zhonghua, 6 vessels with a total investment of approximately RMB 149.5 billion (approximately 20.62 billion USD), of which the project's own funds are approximately RMB 38.4 billion.

The joint venture partners plan to increase the capital of 6 single-ship companies by a total of approximately RMB 38.4 billion, of which Yuanhai LNG will invest approximately RMB 50% billion based on its  19.2  equity ratio, to be used for 6 single-ship companies to pay for part of the vessel investment. COSCO SHIPPING Energy will invest approximately RMB LNG billion in its own funds into Shanghai COSCO SHIPPING 19.2 and then Shanghai COSCO SHIPPING LNG will invest   LNG   billion in its own funds into Shanghai COSCO SHIPPING 19.2 billion into Yuanhai, LNG and later Yuanhai 6 will invest in shipbuilding for

6 single-ship companies. The 6 vessels 27.1 cubic meters Q-Max type LNG single-ship companies have been registered and established by MOL in Liberia, and will sign a project charter contract with QatarEnergy, undertaking the 6 vessels LNG vessel construction contract signed between QatarEnergy and Hudong-Zhonghua. This project

vessels will mainly serve the long-term transportation needs of QatarEnergy. LNG It is understood that COSCO SHIPPING Energy focuses on tanker transportation and LNG transportation, two core businesses. In the LNG transportation field, COSCO SHIPPING Energy is a leader in China's LNG transportation business and an important participant in the world LNG transportation market. COSCO SHIPPING Energy's wholly-owned Shanghai COSCO SHIPPING 50% and its equity stake in China LNG Transportation (Holding) Co., Ltd. ( CLNG LNG ) are currently China's only two large-scale LNG transportation companies, and have become an important force influencing the world 2024 transportation market. As of 6 Month 30 Day, COSCO SHIPPING Energy has participated in the investment of 85 vessels LNG vessels, of which LNG vessels 45 vessels 755 cubic meters have been put into operation, and LNG vessels 40 vessels 715 cubic meters are under construction.

Including the above 6 vessels, COSCO SHIPPING Energy has, through Shanghai COSCO SHIPPING LNG and equity stake in China LNG Transportation (Holding) Co., Ltd. ( two companies, a total of 8 vessels 27.1 cubic meters of the world's largest LNG vessels. It is understood that QatarEnergy signed a follow-up order for 9 vessels with Hudong-Zhonghua in 6 vessels Q-Max type, the world's largest LNG transport vessels. This is after signing the contract for 4 Month 29 vessels on 18 in Beijing, which was hailed as, the two sides once again joined hands to sign a new order.

QatarEnergy has confirmed the shipowners for all 24 new vessels. In addition to the latest 6 vessels that will be jointly owned by MOL and Shanghai COSCO SHIPPING LNG the previous 18 vessels of the same type ordered in the first half of this year, of which 9 vessels are owned by Qatar's state-owned natural gas transportation company Nakilat ，4 vessels are owned by China Merchants Energy Shipping, 3 vessels are owned by Shandong Marine Energy (Singapore), and another 2 vessels are owned by a joint venture company of China Merchants Group and COSCO SHIPPING Group equity stake in China LNG Transportation (Holding) Co., Ltd. ( 。

Thus, Hudong-Zhonghua has won a total of 24 vessels 27.1 cubic meters LNG of ship orders, firmly establishing its position as a global leader in innovation in the field of ultra-large LNG The new ships are scheduled to be delivered between 2028 and 2031 years, with a total value of 24 ships reaching 80 US dollars (approximately RMB 580.11 yuan), equivalent to a single ship price of 3.33 US dollars.

It is understood that this type of ship was independently researched and designed by Hudong-Zhonghua, and in 2023 transportation market. As of 9 month, it simultaneously obtained the Approval in Principle (AiP) certificates from American Bureau of Shipping ( ABS ), Lloyd's Register ( LR ), Bureau Veritas ( BV ), DNV and China Classification Society ( CCS ). This is the largest AiP certificate issued so far globally for this type of vessel. This signifies that China's LNG research, design, and construction have officially entered the ultra-large field, marking another significant step forward for China's high-end shipbuilding R&D capabilities towards becoming a world leader. LNG The new ship has an overall length of

meters, a molded breadth of 344 meters, a molded depth of 53.6 meters, and a design draft of 27.2 meters. It adopts a dual-fuel slow-speed engine propulsion system and 12 NO96 Super+ cargo containment system. It adopts a hold scheme, with a compact size and the world's largest 5 cubic meter cargo capacity, improving the carrying capacity compared to conventional 27.1 cubic meter large 17.4 carriers by LNG ; it uses a multi-objective optimized double-stern fin hull form, which has excellent speed; the ship is equipped with the latest generation of cargo containment system, with lower evaporation rate, and the cargo transportation energy consumption per ton-mile is reduced by 57% compared to 17.4 cubic meters LNG 9.9% ; the liquid tanks use enhanced insulation modules, equipped with real-time sloshing monitoring system, hull stress monitoring and anti-collision system, realizing multiple safeguards and better safety and reliability; equipped with a powerful reliquefaction system and shaft-driven reverse thrust system, flexible operation; and the carbon intensity indicator ( CII ) is lower than 17.4 cubic meters LNG carriers, allowing flexible matching of various operating ranges on different routes; its diversified optimized draft and loading design can reach multiple terminals on all continents across the globe, covering major mainstream routes, and has excellent ship-shore compatibility. 23% To date, QatarEnergy has ordered two batches of a total of 70 ships through its

global “ Hundred Ships Plan ” shipbuilding companies. Among them, 4 The first phase order, which took effect in 128 vessels LNG year, totaled 2022 ships, including 60 ships from Hudong-Zhonghua, 12 ships from Hyundai Heavy Industries, ships from Samsung Heavy Industries, ships from Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering); 17 The second phase order, which took effect from 18 year to this year, totaled 13 ships, including 2023 conventional ships from the three major South Korean shipbuilders ( 68 ships from Hudong-Zhonghua, 24 vessels Q-Max ships from 44 ships, and LNG ships from Hanwha Ocean). ships from Samsung Heavy Industries, ships from Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering); 17 The second phase order, which took effect from 15 With 12 ships and

orders, Hudong-Zhonghua ranks first among global shipyards in QatarEnergy's 12 ships, and LNG construction project, in terms of contract value or gas carrying capacity, achieving a historic leap from following, to running alongside, and finally leading. 24 vessels Q-Max型订单，沪东中华在卡塔尔能源公司 “ Hundred Ships Plan ”建造项目中，以合同金额或载气量计均位居全球各船厂之首，成就了从跟跑、并跑到领跑的历史性超越。