CIMC ENRIC announced that its subsidiary, Nantong CIMC Sinopacific Offshore & Engineering, has signed an agreement with Italian ship owner Fratelli Cosulich for an 8,200 m3 LNG bunkering ship and an alternative vessel. The order is worth about $45 million.
The new ship will be equipped with Wartsila's cargo handling system, and the first ship will be delivered in 2023. The construction of another alternative LNG bunkering vessel will be confirmed by the ship owner within a certain period of time.
Upon delivery, the new vessel will be operated by a new company, Fratelli Cosulich LNG, Fratelli Cosulich said.
CIMC Sinopacific Offshore & Engineering currently has 7 orders in hand, including LNG bunkering vessels and LPG carriers.
At present, CIMC Sinopacific Offshore & Engineering has delivered more than 30 LPG vessels. By the end of March 2021, CIMC's order book is about RMB 2.3 billion, up 15% year on year, and the total number of new orders signed is about RMB 200 million, up 31% year on year.
The global LNG bunkering market is expected to grow to $4.9 billion by 2027, with Asia and Europe expected to grow even faster, according to a market research report. With LNG fuel gaining popularity in new shipbuilding markets and the demand for LNG bunkering vessels also growing rapidly, this type of vessel is expected to be a bright spot in the coming years.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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