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Lauritzen gas arm opens in Shanghai

Shanghai: Growing demand for pressurised gas carriers on Chinese coastal trader has led Lauritzen Kosan, the liquid gas arm of the J. Lauritzen group, to open a new Shanghai office. The company has been monitoring the growth of petrochemical trade into China for some years now from its Hong Kong office, says Thomas Wøidemann, svp of Lauritzen Kosan, 'but the only effective way for us to take advantage of it is to have a location within the market.' He believes the market is 'definitely primed to take off (since) all the oil majors are building terminals, and some are already up and running.' Lin Siau Tay, a Singapore native who most recently was operations controller for Louis Dreyfus Trading Co in Beijing, will head up the new office, part of whose task will be to explore opportunities in China for the group's bulker and tanker businesses as well.  [09/10/06]

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