COSCO Shipping Energy Transportation (01138): Rents 2 LR2 oil carriers for 800 million yuan and invests 3.4 billion yuan in the layout of gas tanker transportation.

COSCO Shipping Energy Transportation (01138) announced that the company plans to sign a ship leasing contract with Navios Maritime Partners L.P. (referred to as "LR2 ship lessor"), to lease 2 new LR2 ships for 62 months (with the company having the option to choose), with a total rental fee equivalent to approximately 800 million RMB during the lease period. The rental level is in line with the current market prices for similar ships. The company's indirect wholly-owned subsidiary, Far East Liquefied Natural Gas Investment Co., Ltd. (referred to as "Far East Company"), plans to sign a ship leasing contract with Seaspan Corporation Pte. Ltd. (referred to as "gas carrier lessor"), to lease 2 large gas carriers for 20 years (with Far East Company having the option to choose), with a total rental fee of approximately 3.4 billion RMB during the lease period. The rental level is in line with the current market prices for similar ships. The company is conducting LR2 ship leasing transactions to optimize the tanker fleet structure, maintain mid-to-long-term capacity, enhance global capacity deployment and operational capabilities, and lay a solid foundation for improving the overall competitiveness and economic benefits of the company. The company is conducting gas carrier leasing transactions to optimize and upgrade the business structure by establishing a fleet of new energy transport ships. The ships involved in the transaction have technological advantages in green, low-carbon, and multi-liquid cargo transport that are compatible with various clean energy chemical transportation needs. This will help the company better meet the new business development needs of key customers, enhance customer loyalty, expand capacity development paths, and consolidate and deepen industrial chain cooperation relationships.