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Jiangnan Shipyard bags order for VLGC

Jiangnan Shipyard bags order for VLGC
China’s Jiangnan Shipyard has received an order to build one 84,000 cu m VLGC plus one option from Greece’s Naftomar Shipping & Trading.

Jiangnan Shipyard, subsidiary of China State Shipbuilding Corporation (CSSC), announced that this is their first working relationship with the Greek shipowner.

Financial details of the deal and the delivery date of the ship were not disclosed.

Apart from Jiangnan Shipyard, privately-owned Yangzijiang also announced an order win for a VLGC pair from Shanghai Zhenrong Energy.

While Jiangnan Shipyard is the first mover of Chinese yards to build VLGCs, Yangzijiang affirmed that it will expand its reach into constructing higher specification and value-added ships such as the large gas carriers.

CSSC revealed that the VLGC order win came after intense competition from South Korean yards. The Chinese shipbuilder said work will start immediately on the newbuilding to ensure a timely delivery.