Chinese Firms Partner up to develop LNG Carriers

Jiangxi Jiangzhou United Shipbuilding Company Limited (JJUSCL), an indirect wholly owned subsidiary of the China Ocean Shipbuilding Industry Group (COSIG), has entered into a strategic
cooperation with Jianglian Heavy Industries Company to develop LNG carriers in China’s Jiangxi province. The parties have agreed to to jointly develop LNG carriers, LNG fueling stations, carriers adapted for ship-to-ship LNG transfer and modification of dual fuel LNG ships, and depending on the development of the LNG carrier and large size container markets, the parties may strengthen the strategic partnership to jointly develop launching ports and assembly plants. Under the agreement, Jianglian Heavy Industries may rent from JJUSCL shipbuilding facilities, factories, premises and shipyards for use in the production of single containment LNG tanks and large size non-¬standard containers by Jianglian Heavy Industries.