LNG

Sept 21 (LNGJ) - Sinotrans Shipping Ltd., the Hong Kong-listed Chinese shipping company that owns and operates a fleet of about 190 ships, mainly container vessels and oil tankers, said it was in negotiations "with certain parties" in relation to participation in a possible joint venture to commission the building of five Arctic-class LNG carriers to operate in the Northern Sea Route. "The company expects to hold a proportion of 25.5 percent of the shares in the joint venture," it said. "Parties are still at the stage of negotiations and the company has not entered into any legally binding agreement," Sinotrans added. The shipping venture is likely linked to transporting LNG cargoes from the Yamal LNG project in the Russian Arctic being developed by Novatek with Chinese and French participation.