China planning LNG carrier order

China Shipping Development chairman Li Shaode said the company’s 90% controlled LNG joint venture in China may order new LNG tankers this year. Speaking at the announcement of the company’s annual results in Hong Kong, Li said the LNG joint venture, which was jointly established by China National Petroleum Corp in March 2009 with a registered capital of $5m, would be mainly engaged in transporting LNG from CNPC’s gas fields in Australia to China.
Li said that, while the joint venture had yet to finalise the size and composition of its LNG tanker fleet, it did not rule out the possibility of it placing orders at China shipyards by the end of this year. Hudong-Zhonghua Shipbuilding and Dalian Shipbuilding Industry are the only Chinese shipyards that have the capability to produce LNG tankers.