LNG

Jan 9 (LNG) - Kawasaki Heavy Industries of Japan and China Ocean Shipping Co. (Cosco), China's largest shipping group, plan to build LNG carriers at a Chinese shipyard. The two companies have a long-standing joint venture, Cosco KHI Ship Engineering, which will build the vessels at a yard located at Nantong in Jiangsu Province. KHI has previously built its own LNG ships in Japan. KHI aims to build ships at low cost in China while using Japanese technologies and components. Analysts say the global shipbuilding industry will be even more competitive in 2015 because shipyard capacity is more than double current newbuild orders.