Asia/Pacific News
Use of LNG as a Marine Fuel is "Rising Rapidly in China"
China is increasing its market share in new build liquefied natural gas (LNG) carriers over the next five years as it continues to sign contracts to import LNG, reports Gasworld.
“The use of LNG as fuel for ships is rising rapidly in China and we are excited about the opportunities to further expand our market here," said Duncan Gaskin, sales director of Bestobell Marine, who just won a contract to supply technology to four vessels being built in China.
"Three years ago we had no market share in China and we are now a major supplier of cryogenic globe and check valves for Chinese ships,” he said.
Bestobell's agent in China, Heathland Development, has been helping the former to enter the Chinese market, a tactic which is widely seen as necessary in the country.
“China is a very special market for foreign companies to do business, and relationships and local knowledge count for more here than in any other market," said Tommy Zhang, head of Healthlead’s Shanghai office.
"We have worked closely with Bestobell to guide them in technical and commercial negotiations in China, resulting in a successful business outcome for all parties.”
The first liquefied natural gas (LNG) upstream bunkering station in the country was opened on the Yangtze river earlier this year.
