China Merchants Industry Holdings Co., Ltd., (referred to as “CMI”) signed contracts with An European Buyer on line via video for the new building order of 4+2+2 180,000m3 LNG carriers on December 29th, 2022. Mr. Hu Xianfu, General Manager of CMI and Buyer’s representatives attended the online signing ceremony.

The newly signed new-buildings will be built at CMI Haimen Base. Adopting the joint self-design by DeltaMarin (CMI’s affiliate) and Haimen Base, the vessels will be equipped with GTT MARK III Flex Cargo Containment System, each with a total cargo tank volume of 180,000m3. The first vessel is expected to be delivered in beginning of 2026.

CMI is the enterprise with most track records for repair and conversion of large LNG Carriers in China. Meanwhile, Haimen Base successfully built and delivered the world's first 45,000cbm LNT A-BOX LNG Carrier in 2019, accumulating certain design capability and construction experience. In recent years, CMI has continued on accumulation of LNG technology, reserve talent in production management, development of supply chains and integration of internal resources and integrated a capability for design and construction of large LNG carriers. Earlier this October, CMI Haimen Base signed TALA with GTT for MARK III Cargo Containment System, which signified that CMI Haimen Base was qualified to build large LNG carriers equipped with GTT MARK III Cargo Containment System and laid up a solid foundation for CMI to undertake newbuilding orders of large LNG carriers. This signing of the shipbuilding contract is a major breakthrough and marks CMI entering the newbuilding market of large LNG carriers, moreover reflects the Buyer's recognition of CMI's capability in design and building of large LNG carriers.

Extended Reading

As dedicated ship for transportation of LNG at a low temperature of minus 163 ℃, LNG carrier is internationally recognized as a high-tech, sophisticated and high value-added ship, and is also known as the "pearl in the crown" of the world shipbuilding industry, along with aircraft carriers and luxury cruise ships.

The LNG carrier market has traditionally been dominated by Korean shipyards, especially orders of large LNG carriers have been monopolized by Korean shipyards for a long time. Currently, Hudong Zhonghua is the only Chinese shipyard who has track records for construction and delivery of large LNG carriers, while other Chinese shipyards including Jiangnan Shipyard, DSIC and Yangzijiang Shipbuilding all won their first orders in 2022.