A self-made liquefied natural gas (LNG) carrier of China was named and delivered to its buyer in Shanghai on Tuesday. Worth over 200 million U.S. dollars, the ship named "CESI Tianjin" has a designed capacity of 174, 000 cubic meters of liquefied natural gas. It is built by Hudong-Zhonghua Shipbuilding with the financial support of the Export-Import Bank of China.
"The cost of building the ship exceeded 200 million U.S. dollars in total. The Export-Import Bank of China provided half of the fund, worth nearly 100 million U.S. dollars. The ship will be used to ship LNG from Australia to China," said Li Xiang, deputy director of the Second Operation Office, Transportation Financing Department, Export-Import Bank of China.
The cargo tank of the LNG ship is made of low-temperature resistant material in order to keep the temperature of LNG at 163 degrees Celsius below zero. Therefore LNG ships are recognized as ships of three Hs in the world, namely high difficulty, high technology and high added-value.
Hudong-Zhonghua Shipbuilding is the only Chinese company capable of building LNG ships, which broke the monopoly by Japanese and South Korean companies in building LNG ships.
The ship "CESI Tianjin" is the eighth ship that has been delivered to oversea owners with the help of the Export-Import Bank of China. To support the export of domestic LNG ships, the bank has promised to provide investment to 14 LNG ships, contributing to the development of China's shipbuilding ability.
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