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Kyeongsoo Shon
Jun 20, 2024
In KD-ONE NEWSROOM
GTT法吉泰 2024-06-20 12:00 GTT的 GTT NEXT1 液化天然气货物围护系统获得两项主要批准 GTT secures two major Approvals for its GTT NEXT1 LNG Cargo Containment System 巴黎 – 2024 年 6 月 6 日 – GTT公司是液化气体运输和储存的薄膜围护系统领域的技术专家,其GTT NEXT1液化天然气货物围护系统已获得必维船级社的设计批准(DA)和劳氏船级社的船舶应用通用批准(GASA)。 Paris – 6 June 2024 – GTT, the technology expert in membrane containment systems used to transport and store liquefied gases, has obtained a Design Approval (DA) from the classification society Bureau Veritas and a General Approval for Ship Application (GASA) from Lloyd's Register for its GTT NEXT1 LNG cargo containment system. 这两项批准在雅典的 Posidonia 2024 海事展上正式发布,标志着 GTT NEXT1 技术的一个重要里程碑。必维船级社和劳氏船级社确认该技术符合所有适用的规则和法规,包括国际海事组织的《国际气体运输船规则》(IMO IGC 规则)。获得这两项批准之后,GTT NEXT1技术现已准备好进行商业推广。 These two approvals, officially granted at the Posidonia 2024 maritime show in Athens, mark a major milestone for GTT NEXT1 technology. Through them, Bureau Veritas and Lloyd's Register confirm that the technology complies with all applicable rules and regulations, including the International Maritime Organization's International Gas Carrier Code (IMO IGC Code). With these two approvals, GTT NEXT1 technology is now ready for commercial deployment. GTT NEXT1 技术旨在使用两个金属屏蔽膜同时保有与 Mark III Flex+ 技术相同的保温性能水平。使用预制增强聚氨酯泡沫板来支撑两层膜,在保温性能和机械性能之间提供了最佳优化。次屏蔽层由殷瓦钢制成,主屏障层的设计基于现有的波纹不锈钢概念,类似于Mark技术。通过这些设计优化,可以在使用经过验证的材料和组件的同时实现显著的性能改进。 GTT NEXT1 technology aims to offer a thermal level of performance equivalent to that of Mark III Flex+ technology  while using two metallic barriers. The use of prefabricated reinforced polyurethane foam panels to support the two membranes provides the best compromise between thermal and mechanical performance. The secondary barrier is made of Invar, and the design of the first barrier is based on the existing corrugated stainless steel concept, similar to that of the Mark technologies. By activating these design levers, it is possible to deliver significant performance improvements, while using proven materials and components. GTT董事长兼首席执行官Philippe Berterottière表示:“必维船级社和英国劳氏船级社批准我们的GTT NEXT1液化天然气货物围护系统,表明了我们对创新和卓越技术的坚定承诺。我们很自豪地推出这一尖端解决方案,它将我们经过验证的最佳技术与创新相结合,确保液化天然气运输的最佳性能和更高的可靠性。 Philippe Berterottière, Chairman and CEO of GTT, stated: "The approvals from Bureau Veritas and Lloyd's Register for our GTT NEXT1 LNG cargo containment system demonstrate our unwavering commitment to innovation and technological excellence. We are proud to present this cutting-edge solution, which combines the best of our proven technologies with new advancements, ensuring optimal performance and improved reliability for the transportation of liquefied natural gas." 必维船级社的海事与海洋工程总裁Matthieu de Tugny评论道:“我要祝贺GTT开发了GTT NEXT1货物围护系统,这是GTT的另一项重大技术进步,为全球大规模的海上运输提供了更高效的解决方案。必维船级社的专家一直都有参与。我们非常自豪能够参与这一最新技术,这反映了我们致力于与GTT合作,再次帮助确保液化天然气运输安全可靠的解决方案。 Matthieu de Tugny, President of Bureau Veritas Marine & Offshore, commented: “I would like to congratulate GTT on the development of this GTT NEXT1 cargo containment system - another significant GTT technological advancement, providing ever-more efficient solutions for moving by sea the cleanest energy, globally available at scale. Bureau Veritas experts have been there every step of the way. We are so very proud to be involved in this latest evolution, reflecting our commitment to helping secure safe and reliable solutions for the transportation of liquefied natural gas working yet again in collaboration with GTT.” 英国劳氏(Lloyd's Register)天然气部门总监Panos Mitrou说:“在GTT NEXT1液化天然气货物围护系统中,GTT结合了Mark III和NO96技术的优势,创造了一个在效率和可靠性方面树立了新的标准的薄膜系统。该批准意味着已准备好在劳氏船级社入级的船舶上应用GTT NEXT1围护系统。 Panos Mitrou, Gas Segment Director, at Lloyd’s Register, said: “In the GTT NEXT1 LNG cargo containment system, GTT combines the strengths of Mark III and NO96 technology, creating a membrane system that sets a new standard in efficiency and reliability. This General Approval signifies readiness for GTT NEXT1 containment system application on Lloyd’s Register Class ships.”
GTT的 GTT NEXT1 液化天然气货物围护系统获得两项主要批准 content media
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Kyeongsoo Shon
Jun 20, 2024
In KD-ONE NEWSROOM
January 17, 2024, by Fatima Bahtić Singapore-based shipping company Ocean Network Express (ONE) has confirmed the order for twelve 13,000 TEU methanol dual-fuel containerships at Jiangnan Shipyard and Yangzijiang Shipbuilding. Ocean Network Express (ONE) As informed, each shipyard will build six vessels. The ships will have dual-fuel methanol propulsion and are all scheduled to be delivered from 2027.  In November last year, Intermodal Shipbrokers revealed that the shipowner signed shipbuilding contracts for twelve vessels with Chinese yards.
According to DSIC, the two vessels will feature GTT’s Mark III Flex cargo containment system and be equipped with four cargo holds. The liqu content media
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Kyeongsoo Shon
Jun 20, 2024
In KD-ONE NEWSROOM
April 30, 2024, by Dragana Nikše China’s Dalian Shipbuilding Industry Company (DSIC) and its parent company China State Shipbuilding Corporation (CSSC) have co-signed a contract to build two 175,000 cubic meter large-scale liquefied natural gas (LNG) vessels for Ocean Jade Invested Limited, a joint venture between China Gas, Huaguang Shipping, and CSSC Leasing. According to DSIC, the two vessels will feature GTT’s Mark III Flex cargo containment system and be equipped with four cargo holds. The liquid cargo system will have a liquefaction system and be used exclusively for transporting LNG.  The vessel duo will be powered by two WinGD LNG dual-fuel low-speed main engines, coupled with an iCER system, which not only reduces fuel and gas consumption but also makes vessels compliant with the International Maritime Organization’s emission standards in both fuel and gas modes. The carriers are set to be equipped with the optimized double stern lines, high-efficiency propellers, and a twisted rudder with a rudder ball to improve the hydrodynamic performance and enhance the redundancy of the propulsion system. With the ability to dock at most large LNG shore terminals, the carriers are said to have excellent portability and ship-shore compatibility. Four dual-fuel generators can cover the power load needs of the entire ship under different working conditions. The project will be built at Dalian Shipbuilding headquarters, which brings the total number of LNG carriers built there to 15. DSIC recently started building two 175,000 cubic meter LNG carriers for China Merchants Energy Shipping (CMES). Additionally, the firm was hired by Malaysia’s MISC to build two ammonia dual-fuel Aframaxes, said to be the first in the world.
Chinese shipbuilder picks up two large LNG carrier orders content media
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Kyeongsoo Shon
Jun 20, 2024
In KD-ONE NEWSROOM
GTT and China’s Hualu Engineering & Technology have signed cooperation agreement on onshore membrane full containment tank technology. Katherine Si | Jun 19, 2024 According to the agreement, both parties will carry out a series of practical and innovative cooperation around the technology of onshore membrane full containment tank, and jointly promote the wider and deeper development of membrane tank technology in the field of energy storage and transportation in China. Zheng Kaixue, General Manager of Hualu Engineering, said that as an efficient, environmentally friendly and multi-gas compatible cryogenic storage solution, membrane tank technology is of great significance in improving energy utilisation efficiency and reducing environmental impact. Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
GTT and Hualu collaborate on onshore membrane full containment tank tech content media
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Kyeongsoo Shon
May 16, 2024
In KD-ONE NEWSROOM
May 15, 2024, by Melisa Čavčić Japan’s shipping major Mitsui O.S.K. Lines (MOL) has held a naming ceremony for a newbuilding liquefied natural gas (LNG) carrier at a Chinese shipyard. This vessel and the remaining five in the series will serve CNOOC Gas & Power Singapore Trading & Marketing, a wholly owned subsidiary of the Asian country’s energy heavyweight China National Offshore Oil Corporation (CNOOC). Naming ceremony for Greenergy Ocean LNG carrier; Source: MOL Thanks to the deal for six 174,000-cubic-meter LNG vessels from January 2022, Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong) inked its largest LNG carrier shipbuilding order at the time, amounting to about 7.5 billion yuan or $1.18 billion. The following month, the Chinese shipbuilder hired France’s LNG containment specialist GTT for the LNG vessels’ tank design. Once October 2022 rolled in, Hudong-Zhonghua Shipbuilding picked TMC Compressors (TMC) to provide the complete marine compressed air system for the ships. While announcing a naming ceremony for the Greenergy Ocean LNG carrier, which is the first of these six 174,000 cbm ships, MOL explained the significance behind the name by describing ‘Greenergy’ as a coined word combining ‘green’ and ‘energy.’ The Japanese player further elaborates that the combination of the words conveys the desire to contribute to the realization of a low-carbon society through safe, reliable transport of LNG. Upon delivery from Hudong-Zhonghua at the end of May, the vessel will transport LNG procured by the CNOOC Group from all over the world, mainly to China. Since this is the first vessel to be launched, five more will follow suit as outlined in a long-term charter contract, signed in January 2022, for six new newbuilding LNG carriers, which are jointly owned by MOL, CNOOC, and Cosco Shipping LNG Investment (Shanghai) Co., Ltd. These remaining five vessels are scheduled to be delivered between 2024 and 2026. MOL has been a busy bee lately. The Japanese firm recently won a long-term time charter party (TCP) agreement for a floating storage and regasification unit (FSRU) with Poland’s Gaz System, which came shortly after the company put an FSRU in West Java, Indonesia, into operation. After a previous decarbonization-linked loan bankrolled the construction of an LNG-powered dual-fuel very large crude carrier (VLCC), MOL got its hands on another energy transition-related loan in April. The company’s coal carrier equipped with the Wind Challenger hard sail wind propulsion system recently tucked a new milestone under its belt with daily fuel savings of up to 17% and 5 to 8% per voyage on average. Kunshan Kyungdong Ceratech, a Chinese subsidiary of KD ONE, attended as the main supplier of Glasswool Insulation items.
MOL names first of six newbuilding LNG carriers at Chinese shipyard content media
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Kyeongsoo Shon
May 11, 2024
In KD-ONE NEWSROOM
Subscribe Now • CRUDE OIL | LNG | SHIPPING | UPSTREAM • 30 Apr 2024 | 07:41 UTC HIGHLIGHTS Agreements for operation of nine new LNG ships Ships part of 18 QC-Max fleet to be built in China shipyards Shipowners are CMES, CLNG, Shandong Marine Group QatarEnergy signed April 29 long-term time charter party agreements with three Chinese shipowners for the operation of nine new, ultra-modern LNG ships with a capacity of 271,000 cu m each, as part of its historic LNG fleet expansion program, the company said. The nine ships are part of 18 QC-Max LNG carriers that will be built in Hudong-Zhonghua shipyards in China, QatarEnergy said in its website. QatarEnergy had also signed an agreement with China State Shipbuilding Corp. for the construction of 18 ultra-modern QC-Max size LNG ships on April 29, S&P Global Commodity Insights reported earlier. The three Chinese shipowners are CMES Shipping, a subsidiary of state-owned China Merchants Group, China LNG Shipping (Holdings), a joint venture between state-owned COSCO Shipping and China Merchants, and provincial government-owned Shandong Marine Group, according to announcements published by the three companies on their official social media platform April 29-30. Separately, QatarEnergy signed a long-term TCP agreement with CMES Shipping for the operation of four ships, with CLNG for the operation of two LNG ships and with Shandong Marine Energy for the operation of three ships, announcements from the related parties showed. The agreements were signed in a special ceremony held in Beijing and attended by senior executives from QatarEnergy and the three shipowner companies, they said. "These nine ships are part of QatarEnergy's historic program to support our expanded LNG production capacity from the North Field, which will reach 142 million mt/year by 2030, and which will also help meet our long-term fleet replacement requirements," said Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the President and CEO of QatarEnergy. "Our partnerships with China's shipbuilding industry and the esteemed shipowners, will ensure the long-term operation, deployment, and management of these ships in a manner that maximizes their potential over decades to come," he added. This is the second cooperation between CMES Shipping and QatarEnergy after the two companies signed a long-term time charter agreement for six 174,000 cu m large LNG carrier projects in Doha on March 31, China Merchants said. Meanwhile, Shandong Marine Energy said it has successively provided three offshore oil drilling services to QatarEnergy and signed six 174,000 cu m large LNG carrier projects with them in recent years. The deal for three more LNG carriers with QatarEnergy shows that the company has further gained recognition from international energy companies, Shandong Marine Energy said on the announcement.
QatarEnergy signs LNG carrier time charter contracts with three Chinese shipping companies content media
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Kyeongsoo Shon
Mar 11, 2024
In KD-ONE NEWSROOM
ByLNG Prime Staff February 14, 2024 Q-Max LNG carrier Mekaines (Image. Nakilat) State-owned LNG giant QatarEnergy is looking to order more Q-Max LNG carriers in China as part of its massive shipbuilding program, according to shipbuilding sources. LNG Prime was the first to report in January this year that QatarEnergy signed a shipbuilding deal with China’s Hudong-Zhonghua for the construction of eight Q-Max type LNG carriers. The giant vessels will have a capacity of 271,000 cubic meters and are scheduled to be delivered in 2028 and 2029. Currently, the world’s largest LNG carriers are Qatar’s Q-Max vessels that are about 345 meters long and have a capacity of 263,000-266,000 cbm. Qatar’s Nakilat owns 14 Q-Max LNG carriers built by Hanwha Ocean (DSME) and Samsung Heavy between 2008 and 2010, and they all transport LNG from the giant Ras Laffan LNG complex in Qatar to customers around the globe. Up to 10 Q-Max vessels Prior to the order in China, LNG Prime reported in September last year that QatarEnergy was looking to order about 15 Q-Max LNG carriers in China and South Korea. However, it seems that QatarEnergy has ended talks in South Korea and is now working to sign a deal for more Q-Max vessels in China. Sources said that QatarEnergy is interested to book up to ten such vessels at Hudong-Zhonghua, but the deal has not been signed yet. According to the sources, the contract is expected to be finalized later this year. The price tag of these vessels was not revealed. They each could be worth about $330 million. This means that the price tag for the first eight vessels could reach about $2.6 billion and the second order could be worth up to $3.3 billion. As per the design, in September last year Hudong-Zhonghua received approvals in principle from classification societies for what it said is the world’s largest LNG carrier. According to the shipbuilder, the 271,000-cbm LNG carrier is 344 meters long, 53.6 meters wide, and has a design draft of 12 meters. It features dual-fuel propulsion, a reliquefaction system, an air lubrication system, and GTT’s NO96 Super+ containment tech. The vessel has five storage tanks. Shipbuilding program includes more than 100 vessels QatarEnergy previously entered into deals with Hudong-Zhonghua and South Korea’s three shipbuilders to reserve LNG shipbuilding slots for its giant shipbuilding program which includes the construction of more than 100 vessels. After that, QatarEnergy signed in 2022 a series of time charter deals for the long-term charter and operation of 60 conventional-size LNG ships, concluding the first phase of its program. The vessels will be built at South Korea’s three shipbuilders HD HHI, SHI, and Hanwha Ocean, and Hudong-Zhonghua. QatarEnergy kicked off the second stage of the program last year with a deal for 17 LNG carriers worth about $3.9 billion with HD Hyundai Heavy. Samsung Heavy Industries also recently secured a large order to build 15 LNG carriers for about $3.45 billion, while QatarEnergy selected compatriot shipping firm Nakilat to be the owner and operator of up to 25 conventional-size LNG carriers as part of the second phase of the program. QatarEnergy’s shipbuilding program aims to support and meet future requirements of its North Field East and North Field South expansion projects which will increase Qatar’s production to 126 mtpa, as well as the Golden Pass LNG project in the US. In addition, part of the program is intended to cater for replacement requirements of the existing Qatar LNG fleet.
QatarEnergy plans to book more giant LNG carriers in China content media
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Kyeongsoo Shon
Jan 11, 2024
In KD-ONE NEWSROOM
Hudong-Zhonhua released this rendering when it announced the design concept in 2023 QatarEnergy is reported to be moving forward with the expansion plans for the LNG carrier fleet with an agreement reached for the construction of the world’s largest carriers. According to reports from China, Hudong-Zhonhua Shipbuilding has reached terms with Qatar for eight of its QMAX designs.  China is reporting that the deal will involve eight of the massive carriers with a capacity to transport 271,000 cbm. Confirmation of the contract and full details were not provided but it is believed the ships would be delivered in 2028 and 2029 using a new design developed by the divisions of China State Shipbuilding Corporation. Hudong-Zhonhua Shipbuilding released details on its design (https://maritime-executive.com/article/china-designs-world-s-largest-lng-carrier)last fall reporting the ships would have the same overall dimensions as the current largest ships but an increased carry capacity. By keeping the vessel at 1,128 feet (344 meters) in length, the yard highlighted that it would be able to dock at more than 70 terminals around the world.  Qatar has been rumored to be wanting to add several of the giant carriers to its overall fleet expansion program. The majority of the vessels in the program so far have been the standard size of 179,000 cbm. In addition to the eight mega-sized vessels to be built in China, reports are a second tranche will be ordered in South Korea. Qatar has been splitting its orders between China and Korea as part of an overall program started in 2020 that reserved spots for up to approximately 100 new ships. The contract would be an extension of a relationship between Qatar and CSSC. The Hudong-Zhonhua yard already has orders for a dozen LNG carriers tied to Qatar. Chinese media highlights a large order backlog at the yard and the all-out effort to build LNG carriers. Historically, China has been a distance second to the Korean shipyard as a builder of LNG carriers. There is no word yet on who the charterer or operator would be for these giant vessels. Qatar currently has agreements with many leading shipping companies including Mitsui, NYK, K Line, and MISC. While most of the current vessels are standard size, Qatar starting in 2008 also introduced a total of 14 of the larger QMax carriers. The largest of the current carriers by comparison has a capacity of 266,000 cbm. Earlier this week, Qatar's LNG transport operator, Nakilat, reported that it had ordered two standard-sized LNG carriers and four very large ammonia/LPG carriers from South Korea’s HD Hyundai Industries.  It expanded on the 17 LNG carriers already on order at Hyundai tied to Qatar. Additional orders have been expected but reports in the Korean media said the talks with both Samsung Heavy Industries and Hanwha Ocean have become bogged down over price.  All the orders are timed to coincide with Qatar’s expansion with the development of the massive North Field. When the new region goes online, it will be the largest LNG field in the world. Qatar has said between 2025 and 2027 it will ramp production to 126 million tonnes per annum (mpta) up from the current 77 mpta. Qatar looks to secure its position as the largest exporter of LNG. Last year, the U.S. held the leadership passing Australia and while U.S. production is expanding it will not be able to keep pace with Qatar.
Qatar Goes Big Reportedly Ordering World’s Largest LNG Carriers from China content media
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Kyeongsoo Shon
Dec 02, 2023
In KD-ONE NEWSROOM
September 20, 2023 / By LNG Prime Staff(https://lngprime.com/author/lng-prime-staff/) Q-Max LNG carrier Al Mafyar (Image: Nakilat) State-owned LNG giant QatarEnergy is planning a major order of Q-Max LNG carriers at yards in South Korea and China, according to shipbuilding sources. Sources told LNG Prime on Tuesday that QatarEnergy is looking to order about 15 Q-Max LNG carriers at yards in Korea and China. These deals could be finalized by the end of this year, the sources said. The orders could be potentially worth billions of dollars as one 174,000 cbm newbuild LNG carrier is currently worth about $260 million in South Korea and about $235 million in China. Currently, the world’s largest LNG carriers are Qatar’s Q-Max vessels that are about 345 meters long and have a capacity of 263,000-266,000 cbm. Qatar’s Nakilat owns 14 Q-Max LNG carriers built by Hanwha Ocean (DSME) and Samsung Heavy between 2008 and 2010, and they all transport LNG from the giant Ras Laffan LNG complex in Qatar to customers around the globe. QatarEnergy LNG, previously known as Qatargas, currently operates 14 LNG production trains with a capacity of about 77 Mtpa in Ras Laffan. However, QatarEnergy is significantly increasing its LNG production from the North Field. This first phase of the North Field expansion project will increase Qatar’s LNG production capacity from 77 to 110 Mtpa, while the second phase will further boost capacity to total 126 Mtpa. To (http://Mtpa.To)secure shipping capacity, QatarEnergy reserved slots back in 2020 with three Korean shipyards, including Samsung Heavy, HD Hyundai Heavy Industries, and Hanwha Ocean, and China’s Hudong-Zhonghua. Subsequently, in 2022, QatarEnergy signed multiple time charter parties with various shipowners. Including orders at South Korea’s three shipbuilders (https://lngprime.com/asia/work-starts-on-first-korean-lng-carrier-as-part-of-qatarenergys-fleet-expansion-project/83130/)and Hudong-Zhonghua,(https://lngprime.com/vessels/hudong-zhonghua-kicks-off-work-on-mols-lng-carrier-as-part-of-qatari-project/70973/) QatarEnergy said it concluded construction contracts and long-term time charter agreements for 60 LNG carriers last year. QatarEnergy expects the number to grow to more than 100 LNG carriers in the future and the firm is expected to start awarding new contracts as part of the second phase of the shipbuilding program this year. The second phase could include the construction of up to 40 ships but the total number of vessels remains unclear. The Q-Max vessels are part of the third phase of the giant shipbuilding program, the sources said. They would mainly serve long-term deals tied to QatarEnergy’s North Field expansion projects, including with customers from China, the sources said. Hudong-Zhonghua recently received approvals in principle (https://lngprime.com/vessels/hudong-zhonghua-develops-giant-lng-carrier/90807/)from classification societies for what it says is the world’s largest LNG carrier. According to the Chinese shipbuilder, the LNG carrier is 344 meters long, 53.6 meters wide, and has a design draft of 12 meters. (http://meters.It)It features dual-fuel propulsion, a reliquefaction system, an air lubrication system, and GTT’s NO96 Super+ containment tech. The vessel has five storage tanks. Despite its size, the vessel would be able to dock at more than 70 LNG terminals along the main trade route, the shipbuilder said.
QatarEnergy eyes orders for giant LNG carriers content media
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Kyeongsoo Shon
Nov 09, 2023
In KD-ONE NEWSROOM
• LNG | NATURAL GAS | OIL | SHIPPING • 12 Sep 2023 | 06:20 UTC • AuthorCindy Liang (https://www.spglobal.com/commodityinsights/en/search-results?author=Cindy%20Liang)   Market Specialist – LNG (https://www.spglobal.com/commodityinsights/en/search-results?author=%20Market%20Specialist%20%E2%80%93%20LNG)   Gas & Power (https://www.spglobal.com/commodityinsights/en/search-results?author=%20Gas%20&%20Power)   Eric Yep(https://www.spglobal.com/commodityinsights/en/search-results?author=Eric%20Yep) • EditorSarah Mishra(https://www.spglobal.com/commodityinsights/en/search-results?editor=Sarah%20Mishra) • CommodityLNG,(https://www.spglobal.com/commodityinsights/en/commodities/lng)  Natural Gas,(https://www.spglobal.com/commodityinsights/en/commodities/natural-gas)  Oil,(https://www.spglobal.com/commodityinsights/en/commodities/oil)  Shipping(https://www.spglobal.com/commodityinsights/en/commodities/shipping) • TagsUnited States(https://www.spglobal.com/commodityinsights/en/search-results?q=united%20states) HIGHLIGHTS CSSC dominated Chinese LNG orderbook with over 60 newbuild orders US FOB contracts underpin large share of domestic newbuild orders Chinese NOCs, traders, shipping firms driving domestic LNG ship orders Chinese shipyards have accumulated their largest number of LNG newbuild orders till date, positioning them in coming years as an alternative to South Korean yards who currently dominate the LNG ship construction space. While Chinese yards have been successful in expanding the market share in other ship types such as crude and refined product tankers, and dry bulk vessels, the LNG carrier space has been elusive due to the need for more technological and shipbuilding expertise. The main Korean yards such as Samsung Heavy Industries, Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering collectively have the largest market share in LNG shipping, with a reputation for high-quality construction and delivering ships on schedule, sometimes well ahead of the LNG projects they may be linked to. However, in recent years, the rush for long-term LNG contracts after the Ukraine crisis resulted in new LNG ship orders that pushed yard capacity in South Korea to its limit, opening the door for Chinese yards to expand their presence. One shipbuilder has accounted for the bulk of China's LNG newbuild orders -- China State Shipbuilding Corp., or CSSC -- whose orderbook stood at around 60 ships at the time of writing, with deliveries expected up to 2028, according to company officials. In the first half of 2023, Chinese yards received 14 large LNG carrier orders, accounting for 35% of global orders for the period, state-owned media Xinhua News Agency reported Aug. 17. CSSC said in January that it had received 49 LNG newbuild in 2022, taking China's share of carrier orders for the year to around 30% from less than 7% in 2021. In addition to CSSC, two more Chinese shipbuilders -- Jiangsu Yangzijiang Shipbuilding and China Merchants Heavy Industry -- received their first LNG newbuild orders in October and December 2022, respectively, Xinhua reported in February. These took total Chinese newbuild orders to 55 in 2022, Xinhua said. CSSC executives said that its main LNG carrier has a capacity of around 174,000-175,000 cu m, while the ones from China Merchants Heavy Industry is around 180,000 cu m. CSSC yards CSSC currently has three shipyards to build large LNG carriers -- Hudong-Zhonghua Shipbuilding Co., Jiangnan Shipyard (Group) Co. and Dalian Shipbuilding Industry Co. (DSIC) -- out of which Shanghai-based Hudong-Zhonghua has the largest orderbook of around 40 ships. Hudong-Zhonghua started building large LNG carriers in 2008, but Jiangnan Shipyard and DSIC both received their first LNG orders in March 2022, CSSC said. The ballpark price for a newbuild from South Korea is roughly $285 million, and rising due to yard capacity running out as well as higher raw material and financing costs, according to industry participants. CSSC executives said its LNG carrier prices have risen from around $230 million to $250 million due to strong demand. This is still a steep discount to prevailing industry prices and gives Chinese yards an advantage if they can maintain high-quality specifications and delivery schedules, executives said at the recent Gastech conference in Singapore. In early September, CSSC launched a new model -- Hudong-Zhonghua's 271,000 cu m -- LNG carrier that received approval in principle (AiP) certificates from four major classification societies, making it the largest LNG carrier in the world. If constructed, CSSC's ship would be the world's largest, and bigger than Qatar's Q-Flex ships at 210,000 cu m and Q-Max ships at 266,000 cu m. Demand for LNG carriers A large number of Chinese long-term LNG contracts on an FOB delivery basis has driven up the LNG newbuild demand. Chinese shipping companies like state-owned COSCO, Chinese national oil and gas companies and second-tier gas companies are expected to control a growing share of the global LNG fleet. This bolsters their energy security and gives trading firms like PetroChina International, the LNG trading arm of PetroChina, more optionality in managing its growing LNG portfolio. Chinese importers holding FOB contracts include state-owned Sinopec, CNOOC, CNPC, and private-owned ENN and China Gas, who have joined hands with ship operating companies to order newbuilds at domestic yards in the past two years. China has signed about 40 LNG term contracts, equivalent to around 54 million mt/year of LNG, since 2021, nearly half of which were FOB delivery from the US, according to data from S&P Global Commodity Insights. In comparison, China signed only 17 LNG term contracts, equivalent to around 14 million mt/year during 2016-2020, mostly for destination ex-ship (DES) delivery, the data showed. Hudong-Zhonghua also won orders for twelve 174,000 cu m LNG carriers from Qatar Energy in 2022, and Jiangnan Shipyard won orders six 175,000 cu m LNG carriers from the UAE's ADNOC last year, which are likely for DES supply. US FOB cargoes boost LNG carrier demand Following is a table of major US LNG contracts underpinning LNG newbuild orders: Sinopec Kantons Holdings, Cosco Shipping Energy and DSIC signed a contract for three LNG newbuilds on Aug. 31, which will be used to ship US LNG under Sinopec's two 20-year contracts with Venture Global for 4 million mt/year. On Aug. 21, China Gas' joint venture signed a contract with DSIC for two LNG carriers. China Gas holds four US FOB LNG contracts -- two for 2 million mt/year over 20 years from Venture Global, one for buying 700,000 mt/year for 25 years from Energy Transfer and one for 1 million mt/year for 20 years from NextDecade. PetroChina International and COSCO Shipping Energy ordered two newbuilds from Hudong-Zhonghua in July, adding to six existing orders. PetroChina has an FOB contract with Cheniere Energy for 1.8 million mt/year of LNG for 25 years. Gas distributor ENN signed long-term charters with Japan's Mitsui O.S.K. Lines and China's Tianjin Southwest Maritime in 2022 for six LNG carriers built by Hudong-Zhonghua. ENN holds five US FOB LNG contracts -- two for 2.7 million mt/year from Cheniere, two for 2.7 million mt/year over 20 years from Energy Transfer and one for 2 million mt/year for 20 years from NextDecade. CNOOC awarded contracts for construction of 12 LNG carriers to Hudong-Zhonghua in 2022. CNOOC holds two FOB contracts with Venture Global for 2 million mt/year for 20 years and 0.5 million mt/year of LNG for three years.
Chinese yards set to scale up LNG newbuild construction at record pace content media
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Kyeongsoo Shon
Sep 15, 2023
In KD-ONE NEWSROOM
By Global Times Published: Sep 05, 2023 06:37 PM The world's largest liquid natural gas (LNG) carrier developed by China's Hudong-Zhonghua Shipbuilding (Group) under the China State Shipbuilding Corporation has won approval in principles (AiP) from multiple major classification societies, marking another step forward for China's shipbuilding ability.  During Gastech 2023, an exhibition covering natural gas, LNG, hydrogen, low-carbon solutions, and climate technology, held in Singapore on Tuesday, the Hudong-Zhonghua's 271,000 cubic-meter LNG carrier was granted AIPs from American Bureau of Shipping, Lloyd's Register from the UK, French Bureau Veritas and Norwegian Det Norske Veritas, Hudong-Zhonghua told the Global Times on Tuesday.  The LNG carrier has the world's largest capacity of 271,000 cubic meters, about 57 percent more than regular LNG carriers with maximum capacity of 174,000 cubic meters. The large capacity doesn't affect the LNG's mobility, which is adaptable for 70 global shore stations and major sea routes.  The carrier can transport 155 million cubic meters of natural gas at a time, which can meet the gas consumption demand of 4.7 million households in Shanghai for one month.  In terms of energy cost, Hudong-Zhonghua said the carbon intensity indicator of Hudong-Zhonghua's carrier is 23 percent lower than a regular LNG carrier, and can save 9.9 percent of energy in transporting one ton of cargo per nautical mile. As the global LNG market remains highly active, Hudong-Zhonghua has delivered over 40 LNG carriers and support vessels. The volume of LNG carriers order on hand is now over 50, with a production schedule extending to 2028, the company said.
World’s largest LNG carrier, developed by Hudong-Zhonghua Shipbuilding Group, wins approval from major maritime classification societies content media
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Kyeongsoo Shon
Sep 15, 2023
In KD-ONE NEWSROOM
18 Jul 2023by Craig Jallal Leading Chinese LNG carrier shipyard Hudong-Zhonghua is reported to have won an order for two 174,000-m3 units from a Chinese owner at a new high of US$245M United Liquefied Gas Shipping, a joint venture majority owned by Cosco Shipping Energy and Petro China, is reported to have agreed a price of US$245M each for a pair of 174,000-m3 LNG carriers to be constructed at Hudong-Zhonghua shipyard, according to a report in BRL Weekly Newbuild Newsletter. This is believed to be the highest price agreed by a Chinese owner for large LNG carriers at a Chinese shipyard, and possibly marks a new escalation in prices. Clarksons Research Services lists the price of 174,000-m3 LNG carriers newbuilding contracts at US$261M and reported NYK had ordered two 174,000-m3 LNG carriers are Hyundai Samho for US$261M each. In other news, Danish owner Celsius continues to expand its fleet toward a stated aim of 20 gas carriers (LPG and LNG) with another four 180,000-m3 LNG carriers ordered from China Merchants Heavy Industry at US$235M each.
Hudong-Zhonghua books more large LNG carriers content media
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Kyeongsoo Shon
Mar 20, 2023
In KD-ONE NEWSROOM
February 20, 2023, by Aida Čučuk Chinese shipbuilder Hudong-Zhonghua has independently developed and designed a B -type LNG containment system with completely independent intellectual property rights and officially started the construction. Courtesy of Hudong-Zhonghua The B-type containment system can carry -163 °C of liquefied natural gas (LNG) and has a high utilisation rate of tank capacity, strong anti-sloshing ability, and no liquid level limit. According to Hudong-Zhongua, the B -type tank can hold 6,950 cubic meters of LNG and will be applied to the world’s first river-sea direct 14,000 cubic meters LNG bunkering ship independently designed and built by the company. The B -type tank is commissioned to be built by a third party, and it is expected to be hoisted in the dock in the third quarter of this year. Hudong-Zhonghua Shipbuilding has multiple ongoing LNG projects. Recently, it selected Norway-headquartered TMC to deliver the marine compressed air system for seven LNG carriers it is constructing for Japanese shipping major Mitsui O.S.K. Lines (MOL).
Hudong-Zhonghua kicks off B-type LNG containment system project content media
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Kyeongsoo Shon
Jan 31, 2023
In KD-ONE NEWSROOM
By LNG Prime Staff /January 27, 2023 For illustration only (Image: GTT) France’s GTT confirmed a tank design order for two more 175,000-cbm LNG carriers with China’s Dalian Shipbuilding Industry (DSIC). GTT said in a statement on Thursday it had won the order at the beginning of this year. DSIC will build the LNG carriers for CMES LNG Carrier Investment and the vessels will feature GTT’s Mark III Flex membrane containment system. The delivery of the vessels is scheduled for the third quarter of 2026. China Merchants Energy Shipping (CMES), a unit of China Merchants Group, announced this order for two more 175,000-cbm LNG tankers in December last year, boosting the total to six vessels. CMES said each of the LNG carriers is worth about $235 million. Earlier the same year, CMES placed an order for two dual-fuel LNG carriers with GTT’s Mark III Flex membrane containment system for $380 million, DSIC’s first order for large LNG carriers. After that, the firm exercised an option for two more LNG carriers worth $400 million, boosting the total to four vessels. Three out of four of these LNG carriers will go on charter to Sinochem as CMES signed LNG carrier charter deals in August 2022 with Sinochem worth up to $2.5 billion.
GTT confirms DSIC order for two more LNG carriers content media
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Kyeongsoo Shon
Jan 06, 2023
In KD-ONE NEWSROOM
CMI will build its first LNG carriers as China continues to grow its share of LNG carrier orderbook (CMI) Published Jan 4, 2023 by The Mritime Executive China Merchants Industry (CMI) has become the latest shipbuilder to break into the highly covenanted market for LNG carriers reporting its first construction order for large gas carriers from a European shipowner. The order comes as Chinese shipbuilders have been moving aggressively to build their share in the segment resulting in a record year for orders in 2022. The order is for an initial four ships each with a capacity of 180,000 cbm which are believed to be for Celsius Tankers, a Danish shipowner which last year declared its intent to expand operations with LNH carriers. Celsius ordered an LNG carrier from South Korea’s Samsung Heavy Industries in late 2022, but with the South Korean building slots booked till 2026 and beyond is believed to have turned to the Chinese. CMI reports the order is for four vessels, with the first ship due to be delivered in early 2026. The contract includes two options each for two additional vessels. The series of LNG carriers will be built at CMI’s Haimen shipyard based on a design jointly developed by Deltamarin and the Haimen shipyard. CMI also signed a licensing agreement with GTT for the French company’s membrane containment system for large gas carriers. “The signing of this construction contract is a major breakthrough for China Merchants Industry in entering the large-scale LNG carrier construction market, and it also reflects the recognition of China Merchants Industry's LNG carrier design and construction capabilities,” said CMI. They noted that the company has been developing its expertise including the 2019 construction of a smaller, 45,000 cbm gas carrier and work for the modification of LNG carriers. CMI joins other major Chinese shipyards that broke into the segment in 2022 for the first time presenting a significant challenge to South Korea’s shipbuilders. Analysts calculated that China grew its market share to 30 percent of the orders for LNG carriers in 2022 up from under 10 percent in 2021. CSSC’s Hudong Zhonghua was the first Chinese yard to deliver a large LNG carrier while in 2021 Jiangnan Shipyard, DSIC, and Yangzijiang Shipbuilding all won their first orders for LNG carriers. Clarksons Research calculated that there was a 130 percent increase in the tonnage ordered for LNG carriers. Of the total 14.52 million compensated gross tons (CGT) ordered, 70 percent or over 10 million CGT went to the South Korean yards. Tw0-thirds of the shipbuilding orders in 2022 in South Korea were for LNG carriers, which due to their complexity are also the highest value new orders. The expectation is that orders for new LNG carriers will remain strong in part driven by Qatar’s expansion of its production due to be completed in 2027.
China Merchants Gets LNG Carrier Order as China Grows Market Share content media
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Kyeongsoo Shon
Nov 02, 2022
In KD-ONE NEWSROOM
By LNG Prime Staff , October 26, 2022 Two containerships under construction in the dry dock at Yangzijiang's Xinfu Yard (Image: Yangzijiang Shipbuilding) China’s largest private shipyard, Yangzijiang Shipbuilding, has won its first order for large liquefied natural gas (LNG) carriers from a European owner. Under the contract, Yangzijiang said it would build two 175,000-cbm LNG carriers and deliver them between 2025 and 2026, it said in a statement on Wednesday. Yangzijiang did not reveal the name of the European owner or the price tag. Shipbuilding sources told LNG Prime that Germany’s Hammonia Reederei is behind this order and that the vessels are each worth about $235 million. Hammonia currently has no LNG carriers in its fleet which includes containerships, bulk carriers, and also multi purpose vessels, the company’s website shows. Germany is fast-tracking LNG imports and plans to start importing liquefied natural gas by the end of this year as it looks to replace Russian gas pipeline supplies and boost energy security. The German government backed the charter of five FSRU’s that will start work in Wilhelmshaven, Lubmin, Brunsbuettel, and Stade as import terminals during this year and 2023. GTT tech French LNG containment giant GTT recently signed a technical assistance and license agreement with Yangzijiang, enabling the yard to construct vessels using GTT membrane technologies. Also, Yangzijiang has already secured an order for four 8,000 TEU dual-fueled container vessels from Singapore’s Pacific International Lines, featuring GTT tech. 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, Yangzijiang envisions 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.
Yangzijiang scores first order for large LNG carriers content media
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Kyeongsoo Shon
May 11, 2022
In KD-ONE NEWSROOM
May 4, 2022, by Ajsa Habibic Japanese shipping company Nippon Yusen Kaisha (NYK), through its subsidiary, has signed a long-term charter contract with CNOOC Gas and Power Singapore Trading & Marketing, a group company of China National Offshore Oil Corporation (CNOOC), for six liquefied natural gas (LNG) carriers. [Courtesy of NYK] According to NYK, the company has also entered into a shipbuilding contract for the vessels with China’s Hudong-Zhonghua Shipbuilding. The six vessels are scheduled to be delivered between 2026 and 2027 and will be mainly engaged in LNG transportation to China. The LNG carriers will be equipped with an X-DF2.1 iCER dual-fuel engine that can operate on fuel oil or boil-off gas stored in its cargo tank. The vessels will each have a cargo tank capacity of about 174,000 cubic metres and a membrane-type tank that will make use of advanced insulating materials to reduce the boil-off rate. NYK said it has also signed a project head of agreement with a subsidiary of shipping company China Merchants Energy Shipping (CMES) to jointly own and manage the vessels. According to the company, the partnership with CMES will provide “stable and safe LNG transportation to the CNOOC”. Consolidating efforts to reach net-zero by 2050, the Japanese company recently launched green brands, aiming to expand its green-business initiatives and low-environmental-impact services in its logistics business.
NYK inks long-term charter with CNOOC for six new LNG carriers content media
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Kyeongsoo Shon
May 06, 2022
In KD-ONE NEWSROOM
[05 May 2022 10:56AM / CNA BUSINESS] FILE PHOTO: Logos of China National Offshore Oil Corporation (CNOOC) are displayed at a news conference on the company's interim results in Hong Kong, China, March 23, 2017. REUTERS/Bobby Yip SINGAPORE : China National Offshore Oil Company (CNOOC) has awarded 16 billion yuan ($2.42 billion) worth of contracts to build 12 liquefied natural gas tankers, the largest of their kind in the country, the company said on Thursday. China is the world's largest buyer of the super-chilled gas, while CNOOC is the country's largest importer of the fuel and among the state majors leading a drive to expand their LNG fleet to meet rising import needs and facilitate fast-growing global trade. The 12 vessels will be built by Hudong Zhonghua Shipbuilding Co, a unit of China State Shipbuilding Corporation (CSSC), utilizing the so-called fifth-generation LNG tanker technology that reduces fuel consumption and carbon emissions, CNOOC said in a statement on its website. Each tanker can carry up to 174,000 cubic meters of LNG, equivalent to 108 million cubic meters when re-gasified. The vessels are slated for commissioning between 2024 and 2027, CNOOC said. The company, which first imported LNG in 2006, has built 10 LNG tankers and also engaged in joint vessel designing in tie-ups with CSSC. CNOOC is the parent of Hong Kong and Shanghai-listed CNOOC Ltd and overseas the group's business such as oil refining and natural gas trading, excluding offshore oil and gas production.
China's CNOOC awards $2.4 billion LNG tanker building contracts  content media
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Kyeongsoo Shon
Apr 25, 2022
In KD-ONE NEWSROOM
Xinde Marine News Sarah Yu 2022-04-01 14:56 On March 31, Dalian Shipbuilding Industry and China Shipbuilding Trading successfully undertook the new construction project of 2+2 175,000 m3 large-scale LNG carriers under China Merchants Energy Shipping. The type of ship is independently developed by DSIC. The ship has a total length of 295 meters, a width of 46.4 meters, a depth of 26.2 meters, a design draft of 11.5 meters, a designed service speed of 19.5 knots, and a total cargo capacity of 175,000 m3. The ship is equipped with the latest LNG dual-fuel low-speed main engine and adopts GTT Mark III Flex cargo containment system, which has obtained AIP certificate from Lloyd's Register and China Classification Society. Over the years, DSIC, together with GTT and several classification societies, has completed the research and development of 140,000 m3, 150,000 m3 and 175,000 m3 of various products, which have been recognized by GTT and classification societies. Source: Xinde Marine News Sarah Yu
CMES ordered 2+2 175,000 m3 LNG carriers in DSIC content media
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Kyeongsoo Shon
Feb 21, 2022
In KD-ONE NEWSROOM
February 18, 2022, by Sanja Pekic French LNG containment specialist Gaztransport & Technigaz (GTT) reports solid earnings at high-end of annual targets for 2021, with 68 LNG carrier orders, amongst others. On 17 February 2022, GTT presented its results for the 2021 financial year. Philippe Berterottière, CEO of GTT, said: “With 68 LNG carrier orders, 2 ethane carrier orders and 6 onshore storage tank orders, GTT posted a strong commercial performance in 2021 for our core business. The market dynamics remain very positive in 2022 with ten LNG carriers ordered since the beginning of the year. All the liquefaction projects under construction still represent significant potential for LNG carrier orders.” In the LNG as fuel segment, new orders reached a total of 27 units, which is a record volume compared to previous years.Also, the company obtained several approvals from classification societies to develop new technologies. In 2021, the revenues were down 21 per cent compared to 2020, when they were exceptionally high, but up 9 per cent compared to 2019. “From a financial standpoint, revenues for 2021 are in line with our expectations,” Berterottière said. He also added that they estimate that consolidated revenues for 2022 should be in the range of €290 million to €320 million ($329.6m to $363.7m). “The Group underlines that the orders received since mid-2020 correspond to delivery dates spread mainly over the 2023-2025 period. These factors enable us to expect, from 2023 onwards, revenues and earnings to be significantly higher than in 2022.” Higher order intake for LNG carrier and ethane carrier 2021 brought multiple successes in the field of LNG carrier. With 68 orders for LNGCs booked during the year, GTT’s core business activity now stands at a very high level.Delivery of these vessels will take place between the first quarter of 2023 and the fourth quarter of 2025. These orders include three medium-capacity LNG carriers and four large-capacity LNG carriers. These 68 orders represent an average capacity of 172,000 cubic metres.In addition, in April 2021, GTT also received an order from Hyundai Heavy for the design of the tanks of two very large ethane carriers (VLEC), with a total cargo capacity of 98,000 cubic metres. Delivery of these vessels is scheduled for the fourth quarter of 2022 and the first quarter of 2023. In May, GTT announced that it had received an order from China Huanqiu Contracting & Engineering for the design of four full integrity LNG membrane storage tanks. Following this, it also received a second order from Chengda for the design of two additional large storage tanks. GTT will design these membrane tanks with a total capacity of 220,000 cubic metres using latest generation GST technology. These orders are part of the new cooperation agreement for the Tianjin Nangang LNG terminal concluded in March 2021 between Beijing Gas Group and GTT. The company received orders to equip 27 vessels with LNG as fuel in 2021. The first order was from the Chinese shipyards Hudong-Zhonghua Shipbuilding and Jiangnan Shipyard on behalf of CMA CGM. This was to equip 12 very large LNG-powered container ships. The second order was from Samsung Heavy to equip five very large container ships for Asian ship-owner Seaspan. In September, it received one order from Korean shipyard HHI to equip two container ships and another order from Korean shipyard SHI to equip six new container ships. Finally, in November, Hyundai Samho shipyard placed an order with GTT to equip two container vessels. In September, GTT launched LNG Optim, a new digital smart shipping solution that helps LNG operators, and LNGC or LNG-fuelled vessel ship-owners, to plan the voyages of their vessels. Hydrogen mass production with Elogen In October, Elogen said that Storengy selected it as part of the HyPSTER project to store green hydrogen produced from renewable energies. Elogen will design and produce the 1MW PEM (proton exchange membrane) electrolyser and will install its technology at the Etrez site in France from 2022. As a reminder, Elogen signed a contract with German energy company E.ON as part of its major SmartQuart project. Elogen will supply E.ON with a 1MW-containerised electrolyser with a production capacity of 200 cubic metres of hydrogen per hour. In addition, it also signed a collaboration agreement with the University of Paris-Saclay. This agreement will provide for the pooling of resources around a joint research program dedicated to PEM electrolysis. Finally, in January 2022, Elogen said it was taking the first step towards mass production with the installation of a new electrolyser production line designed to reach an assembly capacity of 160 MW per year.In the 2021 financial year, Elogen generated €5 million ($5.68m) in revenues and received €0.6 million in operating subsidies; giving total income of €5.6 million, and recorded order intake worth €6.2 million. GTT climate ambitions In 2021, GTT embarked on a structured approach to define its decarbonisation ambitions in accordance with the Science-Based Targets initiative (SBTi), covering its own emissions. The company confirms its climate targets over the 2019-2025 period. It remains committed to significantly reducing its operational emissions (Scope 1 & 2) by 2025: In line with the objective of limiting global warming to 1.5°C, i.e. -4.2 per cent per year vs. 2019, and -25.2 per cent by 2025; By improving energy efficiency, switching to low-carbon energy sources and gradually replacing its fleet of company vehicles. In addition, GTT will continue to reduce emissions from business travel (restricted Scope 3) by 2025: In line with the objective of limiting global warming to 2.0°C, i.e. -2.5 per cent per year vs. 2019, and -15.0% by 2025; By limiting travel through extensive use of digital resources. Order book at end of 2021 On 1 January 2021, GTT’s order book excluding LNG as fuel comprised 147 units, and subsequently changed as follows: Deliveries completed: 53 LNG carriers, 5 ethane carriers, 3 FSRUs; Orders received: 68 LNG carriers, 2 ethane carriers, 6 onshore storage tanks. At 31 December 2021, the order book excluding LNG as fuel stood at 161 units, as follows: 137 LNG carriers; 6 ethane carriers; 0 FSRU3; 2 FSUs; 1 FLNG; 3 GBSs; 12 onshore storage tanks. With regard to LNG as fuel, the order book stood at 32 units at the end of 2021, compared with 14 units at the end of 2020. It changed as follows during 2021: Deliveries completed: 8 container ships and 1 cruiser icebreaker; Orders received: 27 container ships. 2021 consolidated revenues amounted to €314.7 million ($357.5m), down 20.6 per cent compared to 2020. GTT 2022 targets In the absence of any significant order delays or cancellations, the company announces its targets for 2022, namely: Consolidated revenues between €290 million and €320 million ($329.45m to $363.54m); 2022 consolidated EBITDA between €140 million and €170 million ($159m to $193.1m); A dividend amount for the 2022 financial year at least equivalent to that proposed for the 2021 financial year. The Group notes that the orders received since mid-2020 correspond to delivery dates spread mainly over the 2023-2025 period. For this reason, the Group expects, from 2023 onwards, revenues and earnings to be significantly higher than in 2022.
GTT wraps up 2021 with 68 LNG carrier orders content media
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