Company News

Fortune Oil Limited and China Gas Holdings Limited Jointly Now Own Two World Leading VLGCs (Very Large Gas Carriers) and Have Proudly Named Them as “Chinagas Legend” and “Chinagas Glory”


On 28 May 2020, the naming ceremony of two newly built VLGCs (Very Large Gas Carriers), jointly owned by Fortune Oil Limited and China Gas Holdings Limited, through their joint venture - China Gas Fortune Marine Transportation Limited, was held in Jiangnan Shipyard located on Changxing island, Shanghai. To the sound of a long and loud whistle, Ms. Liu Chang, Executive Director & Vice President of China Gas Holdings Limited and Mme. Cheng Hong, representative of Mme. Li Ching, Chief Executive Officer of Fortune Oil Limited and the Executive Director of China Gas Holdings limited, pressed the button which sent celebratory ribbons flying into the sky and the names of the two VLGCs -“CHINAGAS LEGEND” and “CHINAGAS GLORY” were unveiled. More than 100 guests from over 30 enterprises from the LPG trade, finance and shipping industry warmly applauded in congratulation.

Mr. Liu Ming Hui, Executive Chairman of the Board, Managing Director and President of China Gas Holdings Limited and Mr. Ye Qing, Vice President and Director (International Trade) of Fortune Oil Limited and General Manager of China Gas Fortune Marine Transportation Limited, both expressed their heartfelt thanks to Jiangnan Shipyard (Group) Co., Ltd, Wah Kwong Ship Management (Hong Kong) Limited and the other ship building teams for their great efforts in overcoming the impact of the epidemic and ensuring the timely and safe delivery of the two VLGCs.

“CHINAGAS LEGEND” and “CHINAGAS GLORY” fall within the 2nd generation VLGC (type class Panda 84P) designed by Jiangnan Shipyard (Group) Co., Ltd. with a total length of 230 metres, width 36.6 metres, depth 22.2 metres, designed draught 11.4 metres, structural draught of 12 metres and capacity of 45,000 tons (84,000 cubic metres) of LPG. Classified by the internationally renowned safety standards company Bureau Veritas, and flying under the flag of Hong Kong (SAR) they are the world’s most advanced ocean-going liquefied gas refrigeration vessels, equipped with the latest technologies and in compliance with all the international maritime standards.

“CHINAGAS LEGEND” will be put into operation after the naming ceremony, and “CHINAGAS GLORY”’s installation, testing and delivery will be completed in mid-July 2020.

The operation of these two ocean-going liquefied gas refrigeration vessels will strengthen China Gas’s LPG business across the international LPG supply and trading market, enabling it to capture value across the entire LPG trade value chain. The two VLGCs, will be capable of supplying over 700,000 tons per year of LPG from overseas loading ports to the China Gas’s terminal warehouse facilities along the coast of China, from where the LPG will be distributed to the thousands of households and commercial and industrial customers through China Gas’s distribution channels. Establishing a fully integrate LPG supply chain is a significant milestone in establishing China Gas as one of the leading LPG suppliers in China.

Fortune Oil Director (Investment & Development) M. Gong Min, Fortune Oil Director (Enterprise Project Management) Mr. Gao Yimin, related colleagues of China Gas Fortune Marine Transportation Limited and Fortune Oil Trade Department also attended the naming ceremony.