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Shenzhen provides subsidies to LNG carrier operators

The southern Chinese port city of Shenzhen is offering subsidies to LNG operators to boost its development as an LNG trading hub city.

Katherine Si, China Correspondent

February 22, 2024

1 Min Read
Shenzhen port
Shenzhen port

According to the notice from Shenzhen Development and Reform Commission, Shenzhen is going to actively explore new LNG trading models, attracting large-size shipping companies and their subsidiaries to conduct business in Shenzhen, supporting them to build a self-controlled LNG shipping system and further reducing LNG transportation costs.

The city will provide an up to RMB10m ($1.39m) reward annualy to each newly built or purchased large-size LNG carrier within five years old for three consecutive years, as well as SPV companies running LNG carrier leasing services in the Qianhai area of Shenzhen. 

To improve LNG distribution capacity, Shenzhen will also develop LNG distribution and multi-model transportation center and offer up to RMB5m rewards to those opening up new LNG shipping services departing from Shenzhen along the Pearl river delta.

LNG refueling service providers at Shenzhen port also have the opportunity to receive the financial reward.

About the Author

Katherine Si

China Correspondent

China-based Katherine Si has worked in the maritime industry since 2008 is well-connected with local industry players including Chinese owners and yards.

Having majored in English Katherine started at news portal ShippingChina.com where she rose to become a News Editor. In 2008 she moved to work with Seatrade and has since held numerous positions including China correspondent for Seatrade Maritime Review magazine.

With extensive experience in writing, research and social media promotion, Katherine focuses on the shipping and transport sectors.

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