Chinese shipbuilding industry
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CSSC bags China's biggest single LNG carrier order
By Wang Ying in Shanghai | chinadaily.com.cn | Updated: 2022-04-28 20:16
The construction contract for six LNG carriers, each with capacity for 174,000 cubic meters of liquefied natural gas, was inked between China State Shipbuilding Corp and Nippon Yusen Kabushiki Kaisha on Thursday.
The contract has a combined value of more than 8 billion yuan, the largest single LNG order the Chinese shipbuilder has ever received.
The vessels will be constructed by CSSC's Hudong-Zhonghua Shipbuilding (Group) Co Ltd. The Shanghai-based shipyard has recorded contracts for 17 LNG tankers in the first four months of 2022, the most so far this year among global shipbuilders.
Adopting Hudong-Zhonghua Shipbuilding's independent research, development and design, the LNG carriers will be tailored to the project's requirements. Measuring 299 meters in length and 46.4 meters in width, the vessels feature advanced design concepts, optimized technology and facilities, and low-emissions energy systems.
Hats off to China’s merchant navy strategists. China itself needs lots of natural gas. In addition, the Russian-Ukraine war has undoubtedly created an acute shortage of LNG carriers in the next few years, and with Europe going to be in serious energy trouble, it was wise for these guys to move fast to stay ahead of the game.
If the US manages to convince Japan to stop importing Russian LNG from Sakhalin and Siberia then Japan will need more tankers. whichever alternative they use, the ships will have to travel longer distances, so you will need more of them. Compare the distance from Sakhalin to Japan vs getting it say from Australia or even worse Qatar. And Russia can easily divert their LNG to ports in China. So it will all be kind of pointless in the end. Japanese industry has been resisting this tooth and nail but the current Japanese government might just sell them out.
China's CNOOC awards $2.4 bln LNG tanker building contracts - Reuters News
SINGAPORE, May 5 (Reuters) - China National Offshore Oil Company (CNOOC) has awarded 16 billion yuan ($2.42 billion) worth of contracts to build 12 liquefied natural gas tankers, the largest of their kind in the country, the company said on Thursday.
China is the world's largest buyer of the super-chilled gas, while CNOOC is the country's largest importer of the fuel and among the state majors leading a drive to expand their LNG fleet to meet rising import needs and facilitate fast-growing global trade. (Full Story)
The 12 vessels will be built by Hudong Zhonghua Shipbuilding Co, a unit of China State Shipbuilding Corporation (CSSC), utilizing the so-called fifth-generation LNG tanker technology that reduces fuel consumption and carbon emissions, CNOOC said in a statement on its website.
Each tanker can carry up to 174,000 cubic meters of LNG, equivalent to 108 million cubic meters when re-gasified.
The vessels are slated for commissioning between 2024 and 2027, CNOOC said.
The company, which first imported LNG in 2006, has built 10 LNG tankers and also engaged in joint vessel designing in tie-ups with CSSC.
CNOOC is the parent of Hong Kong and Shanghai-listed CNOOC Ltd 0883.HK, 600938.SS and overseas the group's business such as oil refining and natural gas trading, excluding offshore oil and gas production.
I somehow think that the Russia sanctions were orchestrated to give a politically acceptable way for energy to be centralized and to harvest EU/JP. The real loser isn't Russia since it still has all its physical resources and industry intact.