China completes construction of first homegrown 180,000-cubic-meter LNG carrier

A large liquefied natural gas (LNG) carrier, which was independently designed and built by China, has completed construction in Nantong City of east China's Jiangsu Province, meeting delivery standards.

With a capacity of 180,000 cubic meters, the LNG carrier has an overall length of 298.8 meters and a width of 48 meters.

The shipbuilder, China Merchants Industry (CMI) Haimen Base, said the vessel adopts a dual-fuel low-speed propulsion system, featuring a low evaporation rate and strong environmental performance, marking a major breakthrough for China's shipbuilders in the construction of large clean-energy vessels.

"Compared to other domestic vessels with capacities of 174,000 and 175,000 cubic meters, this vessel offers several thousand cubic meters of additional capacity, allowing the shipowners to generate additional revenue. Moreover, the dual-fuel main engine and auxiliary engines can consume the natural gas that evaporates from the LNG in the tanks during navigation. Its evaporation rate is relatively low," said Lu Jinlong, a project manager from the CMI Haimen Base.

LNG carriers are specially designed to transport LNG at minus 163 degrees Celsius. Due to the extreme complexity of their design and construction, these vessels are often called the "crown jewel of the shipbuilding industry." Only a handful of shipyards worldwide possess the core capabilities to build them.

With the delivery of such a vessel, China will have five shipyards capable of building LNG carriers, elevating its overall shipbuilding capabilities to world-class standards.

"We have received 12 orders for the 180,000-cubic-meter LNG carriers. Six of the LNG carriers have started construction. Five have been launched, and the sixth is undergoing final assembly in the dry dock, with its launch scheduled for August of this year," said Chen Xudong, chief engineer from the CMI Haimen Base.

The U.S. dollar weakened in late trading on Wednesday.

The dollar index, which measures the greenback against six major peers, dropped 0.72 percent to 99.142 at 15:00 (1900 GMT).

In late New York trading, the euro increased to 1.1683 dollars from 1.1574 dollars in the previous session, and the British pound was up to 1.3415 dollars from 1.3251 dollars in the previous session.

The U.S. dollar bought 158.51 Japanese yen, lower than 159.73 Japanese yen of the previous session. The U.S. dollar declined to 0.7914 Swiss francs from 0.7988 Swiss francs, and it fell to 1.3849 Canadian dollars from 1.3899 Canadian dollars. The U.S. dollar lost to 9.3069 Swedish kronor from 9.5065 Swedish kronor.