Cosco Shipping Energy Transportation (CSET) has confirmed orders for three LNG carrier newbuildings at a domestic shipbuilder in a deal worth $554m in total.

The Hong Kong-listed company said the vessels will be built at Hudong-Zhonghua Shipbuilding for delivery between September 2024 and March 2025.

CEST said the $185m price tag for each vessel will be funded by 80% by bank borrowings and the remaining 20% from internal financial resources.