A consortium of Chinese companies led by Cosco and classification society Lloyd’s Register have signed a memorandum of agreement to jointly develop a design for a 220,000 cu m LNG carrier with GTT Mark III membrane containment system.
The Chinese companies include Cosco Shipping Energy Transportation, Cosco Shipping LNG Investment (Shanghai), Cosco Shipping Heavy Industry, Jiangnan Shipyard, Marine Design and Research Institute of China (Maric), Shanghai Ship and Shipping Research Institute (SSSRI), and China Classification Society (CCS).
The MOU has detailed the task of each company in the process of developing and securing an approval in principle for the design, which aims to meet Cosco’s future LNG shipping demand.
Currently, Hudong Zhonghua is the only Chinese shipyard that has experience in large scale LNG carrier construction. Its sister yard Jiangnan Shipyard has been making large efforts on the LNG sector, having secured an AIP for a 175,000 cu m Mark III Flex LNG carrier last year.
“All of the partners involved in this project hope to achieve complementary advantages through close cooperation, which will further enhance the competitiveness in the large LNG carrier market within China and local areas,” said Zhu Cangman, vice director of safety committee, COSCO Shipping LNG investment (Shanghai).
“As global demand for LNG trade continues to grow, the shipping industry will require more LNG carriers, specifically for newbuilding orders. As China’s demand for LNG continues to increase, more Chinese shipowners with need LNG carriers and this JIP will provide our customers with a suitable and competitive design to support their business requirements,” added Zhu Jianzhang, assistant president, of MARIC.