Small-scale LNG market operator based in Hong Kong gives overview of tough times in Chinese market
China LNG Ltd, a company involved in the small-scale LNG supply sector in mainland China, reported a drop in revenues from operations as the global surge in prices affected the profitability and revenue flows of the business.
Chinese major CNOOC chooses Sinopacific Offshore yard after tender to construct first LNG bunker vessel
China National Offshore Oil Corp. (CNOOC) has chosen CIMC Sinopacific Offshore and Engineering to build a mid-scale liquefied natural gas bunkering vessel.
CNOOC Energy Development, a unit of the Chinese major issued a tender in November 2021 for a bunkering ship with 12,000 cubic metres capacity as the East China bunkering business gathers pace.
CNOOC’s architecture for the LNG bunkering vessel includes two type C tanks dual-fuel propulsion and will have operational capacity to reach the planned Wuhu LNG inland terminal in Anhui, along the Yangtze River.
The bunkering vessel builder, CIMC SOE, a unit of CIMC Enric, has already signed the construction contact.
The delivery date for the CNOOC fuelling ship is mid-2024.
After several years of research and talks with yards, CNOOC has finally set its bunkering plans in motion.
The company has additionally been collecting fuel customers from scores of LNG-powered vessels ordered in China.
CNOOC’s gas and power unit signed a deal with Guangdong Province Navigation Group, parent of GNG Ocean Shipping, which has this year ordered 50 small LNG-powered bulk carriers at CSSC’s Guijiang Shipbuilding.
Another Chinese major, China Petroleum and Chemical Corp. (Sinopec) is also involved in. bunkering and is further advanced than CNOOC.
Sinopec completed its first LNG bunkering operation in September 2021 in Weihai, a major seaport in the eastern Shandong province.
The refuelling operation involved transferring 250 tonnes of LNG by quayside truck to a China Merchant Shipping vessel.
Sinopec is China’s largest supplier of marine fuels.
The use of LNG as a marine fuel has been gaining traction amid a global push to reduce the shipping industry’s carbon emission.
Chinese small-scale distributor China LNG narrows losses and plans expansion into rural pipeline supplies
China LNG, the Hong Kong-listed supply and small-scale logistics services company also involved in the leasing of vehicles and LNG tank trailers, narrowed its first-half net losses, though revenues fell sharply from a year ago.
