Jiangnan to reap $1 billion from LNG and ethane carriers orders
Jiangnan Shipbuilding, a subsidiary of China State Shipbuilding Corporation (CSSC), has signed letters of intent to construct six new ships worth around $1 billion.
As informed, the shipbuilder signed a preliminary deal with an undisclosed Singapore shipowner for two 175,000 cbm large liquefied natural gas (LNG) carriers. The deal is worth about $460 million and the expected delivery date is the end of July 2027.
Furthermore, the Chinese yard inked a letter of intent for the construction of four 98,000 cbm very large ethane carriers (VLECs). The deals were signed with two undisclosed Hong Kong shipowners. The ships, worth about $540 million), are slated for delivery before the end of October 2025 and the end of January 2026, respectively.
Jiangnan Shipbuilding noted that “if the above-mentioned contract intentions are implemented, it will have a positive impact on the company’s mid- and long-term market success”.
To remind, in August this year, the company hosted a steel-cutting ceremony on Friday, August 19, for the first 7,600 CEU LNG dual-fuel pure car and truck carrier (PCTC) being built for SAIC Anji Logistics, a subsidiary of China’s automobile manufacturer SAIC Motor.
Jiangnan Shipbuilding is currently under contract to build two of these vessels, dubbed the “world’s largest” PCTCs.
The units will have a deadweight tonnage of 13,100 tons, and 13 cargo decks including four movable decks. The ships will also feature WinGD’s ICER technology to bolster fuel efficiency and cut the vessels’ methane slip. The duo was designed by Shanghai Ship Research and Design Institute (SDARI).