The shipbuilder also recently won a large order from Switzerland-based shipping giant MSC for 12 LNG-powered containerships. These vessels will not have GTT tanks.
Yangzijiang said the the two LNG carriers are the company’s first GTT Mark III LNG carrier order after obtaining the license in early September.
They will feature GTT’s Mark III Flex membrane tanks and two dual-fuel MAN 5G70ME-C10.5-GA-EGRBP models for the main propulsion system.
In addition, the LNG carriers will have a reliquefaction system with a capacity of 1.5 tons/hour.
Yangzijiang eyes more LNG carrier orders
Recognizing the changing landscape and increased industry focus on green shipping, Yangzijiangenvisions to extend its foothold in this sector, the firm said.
The global LNG market is expected to be tight till 2026 as Europe’s sanctions on Russian gas exports increase demand for LNG, Yangzijiang said, citing data by the IEA.
However, the LNG carrier supply continues to lag behind due to limited capacity, the firm said.
“Leveraging on the demand-supply gap and Yangzijiang’s own research and development capabilities, the group is confident to capture a larger market share in this sector,” it said.
With this new order, Yangzijiang joins Hudong-Zhonghua, the largest LNG carrier builder in China, as well as Jiangnan and DSIC who won their first large LNG carrier orders this year.
“This is a new chapter for the group with our maiden GTT Mark III LNG carrier contract win,” Ren Letian, executive chairman and CEO of Yangzijiang said in the statement.
“Yangzijiang is the first non-state owned yard in China to break into this market, which is traditionally dominated by the Korean shipyards. This milestone was a result of our consistent development and acquisition of technologies and licenses over the years,” Letian said.