Hudong-Zhonghua secures orders for four 174,000 cubic meter LNG carriers

2017-06-30 09:00

June 29, Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. and MOL (Mitsui O.S.K. Lines) officially signed a contract for the construction of four 174,000 cubic meter LNG carriers, with a total contract value exceeding 5 billion RMB. With this new order, Hudong-Zhonghua LNG carriers has a backlog of 11 vessels.

Li Yingchang, Deputy General Manager of PetroChina Russia Company; Hashimoto Tsuyoshi, Director and Executive Officer of MOL; Zhuang Deping, General Manager of COSCO LNG; Sun Yunfei, Deputy General Manager of CSSC; Hu Kai, Deputy General Manager of CSSC Trading; Chen Jianliang, Party Secretary and Chairman of Hudong-Zhonghua; Chen Jun, General Manager; Jin Yanzi, Deputy General Manager, etc., attended the signing ceremony, which was presided over by Deputy General Manager Chi Benbin. China Exim Bank, Lloyd's Register, China Classification Society and GTT (Gaztransport & Technigaz) witnessed this significant event.

Chen Jianliang said that MOL, COSCO SHIPPING, and Hudong-Zhonghua have closely cooperated on two projects, establishing a very solid and friendly cooperative relationship. Today marks the third collaboration, and mutual trust and support continue to grow. Hudong-Zhonghua is a leading enterprise in China's shipbuilding industry, and will continue to play a leading role in the journey from "Made in China" to "Created in China," adhering to technological innovation and high-end manufacturing, and will deliver four world-class LNG carriers to the shipowner.

Hashimoto Tsuyoshi said that this is a landmark project in China for MOL, and they are very pleased to cooperate with Hudong-Zhonghua again. Hudong-Zhonghua has a strong team spirit and cooperative spirit, and will certainly overcome any difficulties. He is also confident that the four new LNG vessels built by Hudong-Zhonghua will achieve world-class quality.

It is understood that this batch of 174,000 cubic meter LNG carriers are independently developed and designed by Hudong-Zhonghua, representing a new generation of low-energy consumption, low-boil-off-rate green ecological vessels. They adopt the latest generation of cargo tank containment system, with a boil-off rate of only 0.1% during transportation, a 30% improvement in low-temperature insulation performance compared to the previous generation of LNG carriers. What is particularly satisfying to customers is that the use of the world's latest generation of dual-fuel propulsion system can reduce daily fuel consumption to less than 100 tons, reducing energy consumption by 16%. The vessel is equipped with advanced environmental protection devices, and can meet the strictest emission standards in the international maritime industry whether operating in gas or oil mode.

Hudong-Zhonghua is currently the only enterprise in China that builds large LNG carriers, having already built and delivered 13 LNG carriers. It is understood that Hudong-Zhonghua has developed the world's most advanced ultra-large 220,000 cubic meter LNG carrier, and 270,000 cubic meter LNG-FSRU (Floating Storage Regasification Unit), and 220,000 cubic meter LNG-FPSO (Floating Production Storage and Offloading) are also under development, undergoing testing by the world's top customers. Hudong-Zhonghua's welding inspection has achieved zero leakage points, and its construction technology has surpassed that of Japanese and Korean shipbuilders.

Data shows that in 2016, global LNG trade volume reached a record high of 258 million tons, a year-on-year increase of 5%. From January to November 2016, China's natural gas imports amounted to 47.98 million tons, a year-on-year increase of 21.6%, and the proportion of natural gas imports in the total of production and imports has reached 34.9%, an increase of 3.8 percentage points compared to the same period last year. China's dependence on natural gas imports is continuously increasing, and will continue to maintain high-speed growth in the future. Under this background, importing more internationally priced natural gas has become a necessary choice for many oil and gas companies. With the implementation of the national "One Belt, One Road" strategy, trade along the route will become more active. Hudong-Zhonghua continuously draws wisdom and strength from the construction of the "One Belt, One Road," and has become a sought-after excellent shipbuilding enterprise in Shanghai by international oil and gas giants, and LNG carriers will surely become a shining "pearl" in the "Maritime Silk Road".

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