Yangzijiang Shipbuilding books first LNG carrier orders

FEBRUARY 16, 20015 — China's Yangzijiang Shipbuilding (Holdings) Limited says it has secured new shipbuilding orders, worth $135 million, to build two 27,500 cu.m LNG (liquefied natural gas) carriers. The orders come from JHW Engineering & Contracting Limited, a subsidiary of Jacques de Chateauvieux's Jaccar Holdings. The ships are schedulded to be delivered from the shipyard in 2017.

Commenting on the new LNG order, Mr. Ren Yuanlin, Executive Chairman of the Group, said:

"Yangzijiang has entered a relatively mature stage in building bulk carriers and containerships and it has been on the management's agenda to formulate sustainable product strategy. Related research shows that global LNG market will grow from 238 Mtpa in 2014, to 420 Mtpa in 2020, and is expected to further increase to 500 Mtpa in 20251. The strategy to grow LNG vessel business aims to capture the stable medium to long term demand with its promising outlook.

"We have been preparing for the construction of LNG carriers for some time, and we are very pleased to activate it. The order is an endorsement from the client on our reputation, and overall shipbuilding and financial capabilities.

"We understand that LNG carriers are technically more demanding than bulk carriers and containerships; we will take necessary steps to ensure timely delivery and maintain the highest quality, make a solid launch in the new segment, and gradually grow it stronger."

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