GSI Claims Lead in Orders for LNG Dual-Fuel PCTCs

Guangzhou Shipyard International (GSI), part of China State Shipbuilding Corp, has recently taken the lead in orders LNG dual-fuel pure car truck carriers (PCTCs), reports China Daily.

The company now has contracts to build 25 PCTCs after a recent contract signing for three 8,600 ceu dual-fuel PCTCs for an unnamed Asian company. Other orders include three 7,000 ceu dual-fuel PCTCs with Guangzhou Yuanhai Automobile Shipping and three LNG dual-fuel 7,000 ceu newbuilds from COSCO.

Of the yards 25 PCTC orders, 11 are being built for overseas companies, including South Korea's H-Line Shipping. In April 2021, GSI signed a contract with Norway's SFL Corp for two 7,000-vehicle dual-fuel PCTCs. The first vessel was launched on March 7.

Having experienced a five-year drought in newbuild orders, the PCTC market is booming again, with a majority contracted to Chinese shipyards, says DNV. “Data from Clarkson shows this niche area is outperforming the rest of the shipping market, with 38 newbuild PCTCs ordered in 2021 and 90 more in 2022. The rise rests on several factors: limited shipping capacity, an increase in trade of vehicles since late 2020, the quest for greener supply chain solutions, particularly from electric vehicle manufacturers, and demand to replace traditional-fueled PCTCs with those that meet IMO’s environmental regulations.”

Construction of more PCTCs is also expected to help Chinese domestic carmakers to increase their presence in the world market.

William Zhou, GSI Vice President, recently told DNV that GSI has continually invested in research and innovation, grown its technical and engineering teams, and widened its expertise and experience in alternative fuels.