Specifically, LR announced that it signed an agreement with COSCO Shipping LNG Investment (Shanghai) Co., COSCO Shipping Heavy Industry Co., Ltd, Jiangnan Shipyard (Group) Co., Ltd. (JN), Marine Design and Research Institute of China (MARIC), Shanghai Ship and Shipping Research Institute (SSSRI) and China Classification Society (CCS) to design and develop the first 220k LNG carrier with a GTT Mark III membrane containment system.

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First of all, LR and CCS will provide technical expertise and research knowledge to define the ship’s technical specifications and general arrangement of the main systems, to factor in route and capacity requirements. Also, the two parties will provide technical support and consultancy services to ensure that the design meets all international regulations, industry-wide conventions and standards, and that it complies with each society’s classification rules.

Moreover, when the carrier is designed, the two parties - mentioned above - will look to grant the design approval, that will further improve the project partners’ competitiveness in the large LNG carrier market.

Mr. Zhu Cangman, Vice-Director, Safety Committee, COSCO Shipping LNG investment (Shanghai) Co., commented

All of the partners involved in this project hope to achieve complementary advantages through close cooperation, which will further enhance the competitiveness in the large LNG carrier market within China and local areas.

Mr Zhu Jianzhang, Assistant President, MARIC, concluded that the global demand for LNG carriers is increasing, mostly in favour of new building orders. Thus, more Chinese shipowners with need LNG carriers and this JIP will provide our customers with a suitable and competitive design to support their business requirements.