China’s Hudong-Zhonghua Shipbuilding has won a new order from Malaysia’s MISC for five liquefied natural gas (LNG) carriers with a capacity of 174,000 cubic meters each. The agreement further consolidates the shipyard’s position in the highly competitive global LNG carrier construction market.
The latest order has taken Hudong-Zhonghua’s LNG carrier orderbook to 57 vessels, which represents more than 21% of the global market by vessel numbers. The Chinese shipbuilder is now No. 1 in the world in total cargo tank capacity.
The new contract comes after two earlier contracts signed by Hudong-Zhonghua with MISC this year. The first order was for three LNG carriers, to be followed by another contract for two more vessels, all of 174,000 cubic meters capacity.
Hudong-Zhonghua secured 15 new orders for LNG carriers from January to October this year. Its production schedule has now been pushed out beyond 2030, reflecting the ongoing demand for its vessels and the shipyard’s growing influence in the international LNG shipbuilding market.
The 174,000-cubic-metre carriers are part of Hudong-Zhonghua’s fifth generation LNG carrier series, designed to meet the needs of global customers.
Demand surge spurs LNG shipbuilding competition
The company expects the long-term outlook for LNG transportation to remain positive, driven by expanding international LNG trade and the growing importance of natural gas as a transition fuel against the backdrop of global carbon neutrality goals.
The shipyard said the competition among the leading LNG shipbuilders is moving beyond the number of vessels delivered or ordered. Shipyards increasingly are competing on next-generation low-carbon vessel designs, innovative cargo containment technologies and full operation and maintenance services throughout the ship’s lifecycle.
Green vessel development continues to be a strategic priority
The shipyard is promoting large-batch construction of LNG carriers to accelerate technological development and achieve continuous progress in green ship research and development.
More than 15 forward-looking green vessels, designed by Hudong-Zhonghua, are in line with the mainstream requirements of international buyers. The portfolio is a testament of the company’s efforts to combine large-scale production capacity with technological innovation as environmental considerations and operational efficiency assume growing importance in the global shipping industry.
