CSDC backs Yamal orders

China Shipping Development Co (CSDC) has guaranteed orders for three LNG carriers signed for at DSME by its joint venture with Japan’s MOL.

The shipowner said it would be liable for no more than $490m on a pro-rata basis related to its indirect shareholding in the single-ship companies that ordered the 172,000-cbm Arc7 vessels for Russia’s Yamal gas project.

CSDC also said it had provided guarantees of up to $6.4m for the charters of the vessels to Yamal LNG running to 2045, plus options.

DSME in Korea will deliver the ships by 31 March 2018, 31 December 2018 and 31 December 2019 respectively.