Major LNG Carrier Order Placed With Hudong-Zhonghua Shipbuilding

hudong shipbuilding lng carrier signing
China’s Hudong-Zhonghua Shipbuilding Group has won a newbuild order for four 174,000 cubic meter LNG carriers from  a consortium consisting of BW Gas, Teekay LNG Partners,  CNOOC Energy Technology and Services and China LNG Shipping.

China’s Export-Import Bank will provide $400 million in financing for the project according to a statement obtained by Xinhua.

Following deliveries between September 2017 and January 2019, the ships will support the shipment of LNG cargoes from BG Group’s Queensland Curtis Island LNG project.

Teekay LNG Partners acquired a 30 percent ownership interest in the first two LNG carrier newbuildings with the balance of ownership held by CETS (an affiliate of China National Offshore Oil Corporation (CNOOC)) and China LNG Shipping (Holdings) Limited (CLNG), and a 20 percent ownership interest in the second two LNG carrier newbuildings with the balance of ownership held by CETS, CLNG and BW Group.

The ships will utilize GTT’s No.96 membrane-type LNG containment systems.

Hudong-Zhonghua Shipbuilding Group is China’s only builder of large LNG carriers and now has 14 LNG carrier newbuilds on the books.