CMES Signs Long-Term Charter Party Agreements for Six Conventional LNG Vessels with QatarEnergy

DOHA, Qatar • 31 March 2024 – CMES and QatarEnergy signed a long-term charter agreement for a project involving 6 conventional size LNG vessels of 174,000 cubic meters each in Doha, the capital of Qatar. His Excellency Mr Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, signed the agreement with Mr Wang Yongxin, President of CMES. 

During the signing ceremony, His Excellency Mr. Saad Sherida Al-Kaabi stated, "Today's signings form a significant milestone in QatarEnergy's LNG fleet expansion program, as it marks the conclusion of the conventional sizes vessels portion of program, bringing the total number of ships for which we have signed TCPs to 104 vessels, a massive undertaking that is the largest shipbuilding and leasing program ever in the history of the industry. The careful shipowner selection process followed a detailed and rigorous global tender, signifying QatarEnergy's commitment to expanding its fleet of modern LNG carriers in collaboration with world-class shipowners and in an open and transparent manner."

As the first Chinese shipowner to participate and win the bid in a fiercely competitive global environment, CMES stood out. The successful bidding of this project not only lays a solid foundation for the Company to further optimize its business portfolio, consolidate its performance, extend its growth potential, but also symbolizes the remarkable achievement of the Company's commitment to enhancing its international operations with high quality and actively pursuing collaborations in the energy sector on a global scale.

The 6 conventional LNG vessels agreed upon in this contract measure a total length of 299 meters, a beam of 46.4 meters and a depth of 26.25 meters, boasting a cargo capacity of up to 174,000 cubic meters. Equipped with advanced Mark III Flex membrane-type cargo containment systems and dual-fuel propulsion systems, these vessels integrate a range of state-of-the-art energy-saving technologies. This reflects CMES Shipping's unwavering dedication and continuous efforts to mitigate greenhouse gas emissions and propel technological progress within the industry. 

At present, CMES oversees and engages in the investment and operation of 58 LNG vessels (including orders), continually bolstering its sway in the industry and global competitiveness.