Cosco Shipping Heavy Industries (CHI) and GTT signed a strategic agreement to deal with the market challenges and future business developments, such as LNG as fuel newbuildings and retrofits, small scale LNG carriers and FLNG.
In order to be competitive, CHI defined a sustainable development strategy. Furthermore, repairing, retrofitting and new building of LNG related ships have been considered among CHI’s future major areas of development.
CHI owns 10 modernized shipyards located all over China. The company has a capability of repairing & retrofitting around 1,500 merchant vessels, building 11 million DWT new ships annually, and repairing, building various kinds of offshore projects.
“The signing of this strategic agreement meets the long-term planning’s requirements of both companies. It will help ascertain their position, leading to future innovations. This agreement should benefit both parties,” CHI said in announcement.
