Cosco Shipping Heavy Industry (CHI), a merger between Cosco and China shipping shipyards, and French liquefied natural gas (LNG) engineering firm GTT has signed a LNG-centric strategic agreement.
The agreement sees both companies working on LNG-fuelled newbuilds and retrofits, small scale LNG carriers, FLNGs and more to cope with market challenges and future business developments.
“In order to maintain its competitiveness and cover all the products in its fields of specialisation, CHI has defined a sustainable development strategy,” says CHI.
“Furthermore, as it represents the core market, repairing, retrofitting and new building of LNG related ships have been considered among CHI’s future major areas of development.”
“The signing of this strategic agreement meets the long-term planning requirements of both companies. It will help ascertain their position, leading to future innovations. This agreement should benefit both parties.”
Photo credit: Cosco Shipping Heavy Industry
Published: 23 January, 2018
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