CSIC-affiliated Qingdao Wuchang Shipbuilding Industry has inked shipbuilding contracts with Shenzhen Biaodian Investment for the construction of 11 LNG bunkering barges.

The total value of the contracts is approximately RMB370m (US$55.6m).

Additionally, Shenzhen Biaodian Investment reached a resale agreement with Huaqiang Natural Gas to acquire Huaqiang's two LNG bunkering barges under construction at Wuchang Shipbuilding Industry. The two barges are now ready for delivery.

Shenzhen Biaodian Investment is a new company established in December 2015, and has a focus on equity investment in the natural gas sector.