LNG newcomer Sea Jade Investment is said to have inked options for two newbuildings, doubling the size of its new fleet.
This brings to four the tally of 175,000-cbm LNG carriers it has on order at Chinese state-owned Dalian Shipbuilding Industry Co (DSIC).
Sea Jade is a joint venture between Hong Kong shipowner Wah Kwong, Chinese leasing company CSSC (Hong Kong) Shipping and China Gas Holdings.
A shipping source following its activities confirmed the latest contract, adding that the two were optional units that the company held after signing up for two ships in 2023.
Like its earlier pair, Sea Jade’s latest newbuildings are fixed out to China Gas Holdings subsidiary China City Gas for 20 years at rates ranging between $87,000 and $100,000 per month.
Wah Kwong arm Summit Energy is taking a 45% shareholding in the two LNG carriers, while China Gas Holdings subsidiary China City Gas will hold 30% and CSSC Shipping’s Future Clean Energy 25%.
The price of the ships is not known, but China Gas Holdings said China City Gas is expected to commit $142.8m for the two optional vessels.
This would put the total at around $238m each, which a shipbuilding expert said is “not a bad price for the buyer”.
It is much less than recent LNG newbuildings concluded in South Korea at nearly $270m.
Sources said DSIC is scheduled to deliver Sea Jade’s first two ships in 2027 and the other two in 2028.
