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Cosco Shipping Heavy Industries and GTT Renew Cooperation Agreement

Logistic News - Published on Tue, 26 May 2020

Image Source: Cosco Shipping Heavy Industries GTT
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. 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.

GTT and CHI both see LNG as fuel as a promising solution to reduce the environmental footprint of maritime transports 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.

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Posted By : Yogender Pancholi on Tue, 26 May 2020
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