China LNG Shipping (Holdings) Limited (CLNG) was incorporated by China COSCO Shipping Corporation and China Merchants Group in Hong Kong in March, 2004(with China Merchants Energy Shipping Co., Ltd., and COSCO Shipping Energy Transportation Co., Ltd., each holding a 50% stake).
CLNG is the first company in china specializing in LNG shipping, covering LNG transportation project research, investment, supervision and management of LNG carriers.
CLNG led the development of the shipping contractual arrangements, the ships' financing, and the preparation and operation of the shipowning companies (SOCs) for the Guangdong LNG Project (the first LNG Pilot Project in China) and the subsequent Fujian LNG and Shanghai LNG Project, which involved a total of 6 LNG vessels. In addition, CLNG proactively participated in the investment of international LNG shipping projects, i.e., cooperated with CNOOC and Teekay for the 4 vessels of Queensland Curtis Project, teamed up with Dynagas and Sinotrans for 5 Yamal Arc 7 LNG vessels, partnered with Teekay for another 6 Yamal Arc 7 LNG vessels. CLNG is continually devoted to new project development.
CLNG’s overall financial status is sound characterized by excellent asset quality, reasonable capital structure, strong profitability and stable cash flow. Till end of 2020, CLNG has a total asset of $1.24 billion and net asset of $740 million.
With the vision of building a globally competitive gas shipping service provider, CLNG focuses on customer needs and is committed to providing them with safe and reliable transportation services while creating the maximum commercial and social value on a sustainable basis.