IMC Pan Asia plans LNG shipyard investment to meet Chinese demand.

(From Lloyds List)

IMC PAN Asia Alliance is in talks to invest in liquefied natural gas shipbuilding in China, to meet the demand for newbuildings from the country's planned LNG projects, writes Marcus Hand in Singapore.

'In the whole LNG chain, IMC views LNG shipbuilding as the critical segment,' Catherine Zhoulin, deputy general manager for strategic development of IMC Pan Asia Alliance, told a conference in Singapore.

'IMC is in alliance with Chinese LNG players to invest in a shipyard and build LNG ships with support from diverse parties. We have got positive support from the Chinese government.'

Ms Zhoulin was speaking at the Asia LNG Tech conference organised by Lloyd's List sister company IBC Asia.

With the stated policy of the Chinese government that LNG imports into the country should be carried by Chinese shipping companies on ships built at Chinese shipyards, IMC believes this offers great opportunities for more Chinese shipyards to get into the business of building LNG ships.

China will require 30 LNG vessels in the 138,000 cu m type size to meet the shipping demands of the 11 LNG projects it has planned. At present five ships have been ordered from Hudong Zhonghau shipyard for the Guangdong and Fuijan LNG projects.