Yangzijiang scores first order for large LNG carriers

China’s largest private shipyard, Yangzijiang Shipbuilding, has won its first order for large liquefied natural gas (LNG) carriers from a European owner.

Under the contract, Yangzijiang said it would build two 175,000-cbm LNG carriers and deliver them between 2025 and 2026, it said in a statement on Wednesday.

Yangzijiang did not reveal the name of the European owner or the price tag.

Shipbuilding sources told LNG Prime that Germany’s Hammonia Reederei is behind this order and that the vessels are each worth about $235 million.

Hammonia currently has no LNG carriers in its fleet which includes containerships, bulk carriers, and also multi purpose vessels, the company’s website shows.

Germany is fast-tracking LNG imports and plans to start importing liquefied natural gas by the end of this year as it looks to replace Russian gas pipeline supplies and boost energy security.

The German government backed the charter of five FSRU’s that will start work in Wilhelmshaven, Lubmin, Brunsbuettel, and Stade as import terminals during this year and 2023.

GTT tech

French LNG containment giant GTT recently signed a technical assistance and license agreement with Yangzijiang, enabling the yard to construct vessels using GTT membrane technologies.

Also, Yangzijiang has already secured an order for four 8,000 TEU dual-fueled container vessels from Singapore’s Pacific International Lines, featuring GTT tech.

The shipbuilder also recently won a large order from Switzerland-based shipping giant MSC for 12 LNG-powered containerships. These vessels will not have GTT tanks.

Yangzijiang said the the two LNG carriers are the company’s first GTT Mark III LNG carrier order after obtaining the license in early September.

They will feature GTT’s Mark III Flex membrane tanks and two dual-fuel MAN 5G70ME-C10.5-GA-EGRBP models for the main propulsion system.

In addition, the LNG carriers will have a reliquefaction system with a capacity of 1.5 tons/hour.

Yangzijiang eyes more LNG carrier orders

Recognizing the changing landscape and increased industry focus on green shipping, Yangzijiang envisions to extend its foothold in this sector, the firm said.

The global LNG market is expected to be tight till 2026 as Europe’s sanctions on Russian gas exports increase demand for LNG, Yangzijiang said, citing data by the IEA.

However, the LNG carrier supply continues to lag behind due to limited capacity, the firm said.

“Leveraging on the demand-supply gap and Yangzijiang’s own research and development capabilities, the group is confident to capture a larger market share in this sector,” it said.

With this new order, Yangzijiang joins Hudong-Zhonghua, the largest LNG carrier builder in China, as well as Jiangnan and DSIC who won their first large LNG carrier orders this year.

“This is a new chapter for the group with our maiden GTT Mark III LNG carrier contract win,” Ren Letian, executive chairman and CEO of Yangzijiang said in the statement.

“Yangzijiang is the first non-state owned yard in China to break into this market, which is traditionally dominated by the Korean shipyards. This milestone was a result of our consistent development and acquisition of technologies and licenses over the years,” Letian said.


- Advertisements -

Most Popular

Stena Bulk sells its last LNG carrier

Swedish shipping firm Stena Bulk has sold its last liquefied natural gas (LNG) carrier to an undisclosed Asian buyer. The...

Gulfstream LNG asks US FERC to start pre-filing process

Houston-based Gulfstream LNG is seeking approval from the US FERC to initiate the environmental pre-filing review for its mid-sized...

Shell launches largest bio-LNG plant in Germany

A unit of LNG giant Shell has launched what it says is the largest bio-LNG production plant in Germany. The...

More News Like This

GTT secures LNG tank gig for eight vessels

French LNG containment giant GTT has secured a tank design order for eight 174,000-cbm LNG carriers. GTT said a statement...

GTT bags LNG tank gig for Nakilat’s vessels

French LNG containment giant GTT has secured a tank design order from HD Korea Shipbuilding & Offshore Engineering (KSOE)...

MOL’s LNG carrier starts trials in China

MOL's 174,000-cbm LNG carrier, Greeenergy Ocean, has started its sea trials in China, according to Hudong-Zhonghua. The LNG carrier (H1880A)...

GTT CEO: up to 95 LNG carriers required for projects under construction

The market requires up to 95 additional liquefied natural gas carriers to ship contracted volumes of LNG from plants...