China’s gas-fired vessel targets seen as ambitious

China looks to be overreaching itself with its targets for LNG-fuelled vessels, with prices too high to drive demand China looks to be overreaching itself with its targets for LNG-fuelled vessels, with prices too high to drive demand.
By Tang Tian 7 August 2017 0 27077
An LNG bunkering station in Chongqing. (China Gas Holdings)

Experts say a protracted downturn in China’s river cargo-shipping industry has dashed Beijing’s hopes of building 60,000 LNG-fuelled ships by 2020, as shipowners battling soft demand and overcapacity lose what little interest they had in converting fleets to burn LNG.

China currently has just 139 LNG-fuelled ships, 102 of which are newbuilds and 37 retrofitted diesel vessels, according to data from the Ministry of Transport’s Waterborne Transport Research Institute. Nearly 100 of the 139 ships are operational, according to Sheng Sujian, vice manager of the LNG-fuelled...

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