Shanghai Bestway to Supply 200 LNG-powered Domestic Cargo Vessels

| China, Shanghai

China waterways - shippingShanghai Bestway Marine Science and Technology Development Co., Ltd., a wholly owned subsidiary of Shanghai Bestway Marine Engineering Design Co., Ltd, recently signed three contracts to deliver liquefied natural gas (LNG) -powered vessels to Green Power Water Transport Co., Ltd, a Chinese domestic waterways transportation company. The cumulative value is RMB 650 million (USD 105 million).

The contracts are for 200 dry cargo vessels:

  • 100 x 600 dwt – USD 48 million
  • 50 x 800 dwt – USD 28 million
  • 50 x 1000 dwt – USD 29 million

The transactions are between related parties. Green Power Water Transport is 25% owned by Shanghai Bestway Marine Science and Technology Development and 10% owned by another subsidiary of Shanghai Bestway Marine Engineering Design.

(Source: Shanghai Bestway Marine Science and Technology Development)

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