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Shanghai yard wins 6th LNG order

Shanghai yard wins 6th LNG order
SHANGHAI Hudong-Zhonghua Shipbuilding has bagged its sixth liquefied natural gas carrier contract to build a 147,000 cu m LNG vessel for Shanghai LNG Co, writes Hui-Ching Hoo in Hong Kong.

Shanghai yard wins sixth LNG carrier order.

SHANGHAI Hudong-Zhonghua Shipbuilding has bagged its sixth liquefied natural gas carrier contract to build a 147,000 cu m LNG vessel for Shanghai LNG Co, writes Hui-Ching Hoo in Hong Kong.

Meanwhile, Shanghai Hudong-Zhonghua Shipbuilding"s parent group, China State Shipbuilding Corp, said it had successively launched three self-developed LNG carriers with capacities varying between 160,000 cu m and 220,000 cu m.

CSSC president Tan Zuojun said the LNG ship market will bottom out over the next few years as the global economy improves. He said CSSC would step up efforts to expand production capacity for LNG ships in order to accommodate market demand.

Mr Tan added that Shanghai LNG Co had contracted Shanghai Hudong-Zhonghua Shipbuilding to build a 147,000 cu m LNG carrier, although he did not give any indication about the cost of the contract. The ship is scheduled for delivery in 2012. The vessel will be used to transport gas between Malaysia and China over a 20-year period.

This is the sixth LNG vessel for the Shanghai-based shipyard after it successfully handed over another 147,000 cu m LNG vessel, Dapeng Star, to a joint venture between China Merchants Energy and China National Petroleum last December.

A Shanghai-based shipbroker told Lloyd"s List that the cost of the new LNG vessel should be much lower than $200m, given the price of gas carriers has undergone a marked decline in the last two years.

www.turkishmaritime.com.tr

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