Hengli Heavy Industries to Enter LNG Carrier Market with Build-Before-Sale Model
Hengli Heavy Industries, a private Chinese shipbuilder, is planning to enter the liquefied natural gas (LNG) carrier market using its 'build-before-sale' model. This strategy involves constructing vessels before selling them to owners based on prevailing market conditions.
The company has successfully used this approach in the Very Large Crude Carriers (VLCCs) and Very Large Ammonia Carriers (VLACs) sectors, with the latest orders for four VLACs from its parent firm Hengli Group. In the LNG carrier sector, only five shipyards in China are currently capable of building these vessels.
According to the company's agreement with GTT, a leading French provider of liquid cargo containment systems, Hengli Heavy Industries will license GTT's patented membrane-type containment system technology. This move is crucial for Hengli Heavy Industries' entry into the LNG carrier market, as most existing vessels utilize this type of system.