Under the terms of the agreement, both parties intend to
strengthen collaboration on opportunities relating to LNG investments, LNG
projects, LNG transportation, ethane transportation, or other related and
mutually beneficial projects.
As informed, the strategic partnership is expected to
leverage strengths and networks of both companies. It would take advantage of
COSCO Shipping Energy’s experience in the building, operation, and management
of LNG vessels, and Seaspan’s experience in the operation and management of
containerships, as well as the networks and experience of its board members in
the energy sector.
“Seaspan has long standing integrated services with COSCO Shipping
in container shipping, and we are proud to carry this partnership forward to
opportunities in LNG. We are confident that the combined strengths of both
companies will generate significant value in the future,” Bing Chen, Seaspan’s
President and Chief Executive Officer commented.
COSCO Shipping Energy specializes in LNG, oil products, and
other energy transportation under COSCO Shipping and it has the largest LNG
vessel fleet in China. At present, it has 29 LNG vessels in operation and 9 LNG
vessels in its orderbook.
Seaspan’s operating fleet consists of 112 containerships
with a total capacity of more than 900,000 TEU, an average age of approximately
6 years and average remaining lease period of approximately 4 years, on a