China National Offshore Oil Corporation (CNOOC), Sinotrans Shipping & CSC and China Aerospace Science & Technology Corporation (CASC) signed a contract to jointly promote LNG industrial cluster in Changjiang, China.
The three companies agreed to work hard to develop LNG shipping industry and LNG industrial cluster, as well as to promote shipbuilding and conversion of LNG-fuelled ships.
Local market player said, Sinotras owns about 2,000 vessels and consumes at least around 600,000 tons of diesel fuels, worth about CNY 3bn. Therefore, if Sinotrans, instead, uses LNG as a fuel, it could save about 20% of cost.