China will build the largest LNG tanker in the world

By

Marex

2019-04-06 20:14:37

The Chinese shipyard Hudong-Zhonghua and the clbadification society DNV GL have agreed on a joint development project for a new LNG tanker of 270,000 cubic meters – the largest vessel of this type.

Chinese imports of LNG have increased rapidly. The country imported 37.8 million tonnes of LNG in 2017, an increase of more than 54 million tonnes in 2018, an increase of 42%. In light of the country's blue sky protection campaign, it is expected that LNG demand in China will continue to grow at a high level, and that it will exceed 100 million tons by 2030. Shanghai imported a record 600 million cubic meters of LNG in January 2019, requiring six ships with a capacity of 170,000 cubic meters.

Transporting large quantities from various suppliers will require new vessels and increased efficiency, says DNV GL. A ship of 270,000 cubic meters could carry enough LNG to supply gas to 4.7 million homes in Shanghai for a month, 25 to 30 percent more efficiently than a 170,000 cubic meter vessel. In addition, a single 250,000 cubic meter vessel would increase terminal capacity by 50% without increasing the size of the terminal.

Hudong-Zhonghua Shipbuilding is a wholly owned subsidiary of China State Shipbuilding Corporation, the largest shipbuilding group in China. Hudong-Zhonghua, headquartered in Shanghai, is currently the only Chinese manufacturer of LNG tankers.