Yangzijiang Shipbuilding inks debut LNG carrier deal in Europe

Chinese shipbuilding company Yangzijiang Shipbuilding has signed a contract for two 175,000 cbm liquefied natural gas (LNG) carriers.

The contract, which is the company’s first in the LNG carrier newbuilding market, was signed with undisclosed European shipowners.

Two LNG carriers will be built by Yangzi Xinfu Shipbuilding, a subsidiary of the firm.

Earlier on, Yangzijiang Shipbuilding inked a patent cooperation agreement with French LNG containment specialist GTT for the LNG with Mark III type membrane containment system.

Now, the company plans to install GTT’s Mark III Flex membrane containment system on newbuild vessels. Two dual-fuel MAN 5G70ME-C10.5-GA-EGRBP models were chosen as the main propulsion systems. At the same time, the units will be equipped with a 1.5 t/h reliquefaction unit.

“The large-scale LNG carrier market has traditionally been led by Korean shipyards, Yangzijiang Shipbuilding has successfully made a breakthrough and has become the first private shipbuilding enterprise in China to enter this field,” Ren Letian, Executive Chairman and Chief Executive Officer of the company commented.

“Yangzijiang Shipbuilding is in the new shipbuilding market. It plays a crucial role in the transition to green ships. Our recent orders have proved that we can build more environmentally friendly ships on schedule,” Letian added.

The delivery dates for the new LNG carriers are set for 2025-2026, respectively.

Last month, Yangzijiang Shipbuilding revealed that it has secured orders for a total of 22 vessels since last August, achieving its highest-ever total orderbook value of $10.27 billion and extending its revenue visibility to mid-2025.

Out of the orders for the 22 vessels, six are 66,000 DWT bulk carriers, four are 32,000 DWT bulk carriers, and another twelve are 16,000TEU LNG dual-fuel containerships.