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Honghua bags 200 LNG vessels order

Honghua bags 200 LNG vessels order
Honghua Offshore Oil & Gas Equipment (Jiangsu) Co has entered into a contract to build and sell 200 LNG-powered inland river ships to LNG Power Shipping at a price of RMB760m ($120.6m).

The LNG vessels are expected to reduce the pollution emission during operation, in line with the policy of ‘Green Yangtze River’ promulgated by the Chinese government, as well as to reduce the fuel cost.

Honghua Offshore, indirectly wholly-owned by Hong Kong-listed Honghua Group, is principally engaged in the construction of the offshore oil engineering equipment.

LNG Power Shipping, established in China, deals with project muck and garbage in Shanghai city and raw material provision for the municipal construction and real estate development. The main transportation used by the company is the ships propelled by LNG.