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CIMC Enric’s orders up 41.9% in Q1

CIMC Enric Holdings, the energy, chemical and liquid equipment unit of CIMC, reports RMB26.9 billion in orders on hand as at the end of March 2024, representing a significant increase of 41.9% year-on-year.

Katherine Si, China Correspondent

May 10, 2024

1 Min Read
CIMC Enric
Photo: CIMC Enric

In the first quarter, CIMC Enric signed new orders amounted to RMB7.48 billion, an increase of 35.7% year-on-year.

Revenue of the clean energy business grew significantly by 21.2% mainly benefiting from the growth in domestic natural gas consumption, stabilised LNG prices, strong demand from the shipping industry and favourable policies on hydrogen energy. 

Revenue of CIMC Enric’s natural gas storage and transportation equipment and engineering recorded a steady growth. Demand for LNG onboard cylinders and other end- use equipment continued to grow due to the further highlight of the economic benefits of LNG. Additionally, revenue from the hydrogen business grew by 74.2% due the rapid development of the hydrogen industry. 

The shipbuilding business also witnessed an increase in both volume and price, said CIMC Enric.

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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