Chinese shipping company COSCO will take a 50% stake in a subsidiary of Japan’s Mitsui OSK Lines that will own four LNG carriers serving Russia’s Yamal LNG project, Mitsui said in a note on Thursday.
Mitsui’s wholly owned subsidiary has already signed long-term charter contracts for the carriers.
Mitsui and COSCO have collaborated on three other LNG projects in the past, including one for ExxonMobil, for which they delivered four vessels from 2015 to 2016; one for Sinopec, for which they delivered six vessels from 2016 to...
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