Company News

Fortune Oil Limited and Jiangnan Shipyard (Group) Co., Ltd. Signed Building Contract for Two 84,000 Cubic Metre Very Large Gas Carriers (“VLGC”).

2018.01.03

Fortune Oil Limited (via China Gas Fortune Marine Transportation Limited) and Jiangnan Shipyard (Group) Co., Ltd. held a ceremony in Shanghai on 3 January 2018, to sign a building contract for two 84,000 cubic metre Very Large Gas Carriers (“VLGC”). China Gas Fortune Marine transportation Limited is a newly established company jointly owned by China Gas Group Limited and China Gas Holdings Limited (“CGH”, HKEX:384 ).

Attending and witnessing the ceremony were Fortune Oil Limited Executive Director Mme. Li Ching, General Manager of China Gas Holdings Limited's LPG Unit Mr.Song Huabin, Chairman of CSSC (Hong Kong) Shipping Company Limited Mr. Yangli, Chief COO of Wah Kwong Maritime Transport Holdings Limited Mr. Zhou Jianfeng, General Manager of China Gas Fortune Marine Transportation Limited Mr. Ye Qing and other representatives.

China Gas Fortune Marine Transportation Limited operations are focused on liquefied petroleum gas (“LPG”) transportation management and associated businesses.

Affiliated to China State Shipbuilding Corporation limited, Jiangnan Shipyard (Group) Co., Ltd is one of the largest and most advanced modern shipbuilding bases with the most production varieties in China. The two 84,000 cubic metre VLGCs fall within the 2nd generation VLGC (Panda 84P), which is self-designed by Jiangnan Shipyard (Group) Co., Ltd., and fulfills the latest international standards including IMO Tier III control and IGC Code standard.

The signing ceremony opened a new page for Fortune Oil as it enters the global LPG marine transportation market. This reflects the company’s diversified development strategy, and is of great significance to the company’s international presence and long-term profitability.