Dalian COSCO Shipping Energy Supply Chain, a wholly owned subsidiary of COSCO Shipping Energy Transportation (CSET), has entered into an agreement to acquire the entire share capital of COSCO Shipping Dalian Investment.
The transaction is valued at approximately CNY1.59 billion ($219 million), with the final price pending formal asset appraisal filing by state authorities.
The acquisition is intended to consolidate energy and chemical supply chain operations and eliminate potential horizontal competition within the parent group. CSET reported that the deal will integrate assets including four very large gas carriers currently under construction.
Following the transfer of shares, the purchasing entity plans to absorb the target firm through a formal merger process. The company said this move is expected to end a management agreement previously established on November 1, 2024 between the involved parties.
The four 88,000 cubic metre VLGCs are being constructed at Qidong COSCO Shipping Offshore Engineering for a total price of CNY3.21 billion. Two of these ships are scheduled for delivery in 2026, with the remaining pair expected to follow in 2027, the group confirmed.
Dalian Investment reported a net profit of CNY7.22 million for the 2025 financial year on revenue of CNY57.07 million. The purchasing company stated it is focused on funding 40 per cent of the acquisition through its own cash reserves and 60 per cent through external loans.
