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Wah Kwong signs newbuilding and leasing contract for LNG carriers

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LNG Industry,

Sea Jade Investment Ltd, a joint venture company formed between China City Gas (a wholly-owned subsidiary of China Gas Holdings Limited), Fortune Clean Energy (a subsidiary of CSSC (Hong Kong) Shipping Company Limited, [CSSC]), and Wah Kwong Maritime Transport Holdings Ltd, have signed a newbuilding contract with Dalian Shipbuilding Industry Offshore Co Ltd (DSIC) for two 175 000 m3 carriers.

The confirmed pair of LNG carriers are scheduled for delivery in 2027. According to the leasing agreement between Sea Jade and China Gas Hongda Energy Trading Co. Ltd (a wholly-owned subsidiary of China Gas), the two LNG vessels will be chartered out for a period of 20 years.

DSIC’s 175 000 m3 LNG carrier is independently developed by the shipyard and contains four cargo tanks with a GTT Mark III Flex membrane type cargo containment system. The vessel is fitted with a range of eco-friendly technologies, including two sets of LNG dual fuel two-stroke main engines with iCER, offering lower daily fuel consumption and full compliance with the most stringent emission control requirements of IMO in both gas mode and oil mode.

Ship performance is enhanced with the application of the latest generation optimised twin-skeg hull form, ultra-efficient propellers and twist rudders with a rudder bulb for lower resistance, higher propulsion efficiency, and improved propulsion redundancy. Four sets of dual-fuel generators have been installed onboard to fulfil required electric power covering all operation conditions. Excess boil-off gas from the cargo tanks, not required for main engines and generator engines, can be treated by the reliquefaction unit or gas combustion unit.

The strategic partnership heralds a new paradigm, maximising the core strengths of respective parties to jointly deliver high-quality LNG energy services in China.

Wah Kwong has 30 years’ experience of owning and operating gas carriers. In August 2022, the company took over management of the largest LNG bunkering vessel then in operation in Mainland China – the MT Hai Gang Wei Lai. The efforts of the shipowner, crew and shore staff have ensured 37 safe bunkering missions for world leading liner companies without incidents and zero contaminations. In April 2023, Wah Kwong partnered with Shanghai International Port Group as shipowner in completing first ship-to-ship LNG bunkering operation in mainland China.

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