CHI (Cosco Shipping Heavy Industries) and GTT renew their cooperation agreement
May 2020 – CHI (Cosco Shipping Heavy Industries) and GTT have decided to renew the cooperation agreement they signed in January 2018 regarding newbuilding, maintenance, and retrofits of LNG Carriers or LNG-fuelled merchant ships such as VLCCs1, ULCVs2 and VLOCs3.
GTT and CHI both see LNG as fuel as a promising solution to reduce the environmental footprint of maritime transport which is subject to stricter environmental regulations (in particular limitation of sulphur oxide emissions). This collaboration will mutually strengthen their respective offers in this market.
In the framework of this agreement, one of the CHI Group's shipyards, Cosco Zhoushan, has already been qualified by GTT as an approved repair shipyard, and CHI plans a second shipyard to be qualified this year.
CHI is well established in China, with 10 shipyards and over 30 specialised companies dedicated to provide support to its core business. The Group is in a position to repair and retrofit about 1,500 merchant vessels, to build 11 million DWT new ships annually, and to handle different types of offshore projects
1. Very Large Crude Carrier
2. Ultra Large Container Vessel
3. Very Large Ore Carrier