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    On April 29th 2016, the second LNG vessel“KUMUL of the Company’s PNG LNG project is delivered, which is the 172,000 cubic meter ship built by Hudong-Zhonghua Shipyard, invested by a joint venture among the Company’wholly owned subsidiary Kantons International Investment Limited, China Shipping and MOL.

Figure 1: The second LNG carrier of PNG LNG Project

“KUMUL” is the second of the two LNG vessels of PNG LNG Project constructed by Hudong-Zhonghua Shipyard. “KUMUL”, with “PAPUA” the first LNG vessel of PNG LNG Project, will be under a long-term time charter to Exxon Mobil after delivery, mainly shuttling between Papua New Guinea and Chinese ports like Qingdao to transport 2.0 million tons of LNG each year imported by Sinopec from Papua New Guinea.

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