Shekou Southern China books LPG trio at Taizhou Wuzhou -Shanghai International Maritime Information and Literature website

Shekou Southern China books LPG trio at Taizhou Wuzhou
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PostTime:2010-02-05 07:57:14.0 View:131
Shekou Southern China LPG Shipping has ordered a trio of LPG-carrier newbuildings as part of a fleet renewal. Gas players say the Shenzhen-based company has booked the three 3,700-cbm vessels at domestic yard Taizhou Wuzhou Shipbuilding for delivery in 2011. They add that the ships are costing around CNY 87m ($12.8m) each, which is the going price for such vessels in China. Based in the Zhejiang province, privately owned Taizhou Wuzhou specialises in small LPG carriers. It has built three pressurised vessels for IM Skaugen of Norway and is currently working on three 10,000-cbm LPG/ethylene/chemical tankers for the same owner for delivery this year. Market experts say Shekou Southern is the LPG-shipping arm of China Merchants Logistics and operates 10 vessels of between 1,150 cbm and 3,200 cbm, four of which are owned. "Shekou Southern's owned LPG ships are old and due for scrapping in the next 18 months," added a source familiar with the company. According to London broker Clarksons's database, Shekou Southern controls three vessels over 20 years old - the 3,200-cbm Xiang long (built 1973), 2,500-cbm Yin Long (built 1981) and 1,200-cbm Xin Long (built 1977). Newbuiding sources add that the company is one of the longest-established LPG-shipping players in China. There are said to be more than 30 outfits in China involved in the sector, including Cosco, CSC Nanjing Tankers and Zhejiang Energy.
Source:Tradewinds Author:Irene Ang Singapore