After experiencing a phased adjustment in which the global large-scale LNG ship newbuilding market has cooled significantly in 2025 and orders are highly concentrated on Korean shipbuilding companies, Chinese shipbuilding companies will usher in a key breakthrough in 2026. Jiangnan Shipbuilding successfully secured its first large-scale LNG ship order this year, marking that China's shipbuilding industry has achieved a "good start" in the field of high-end LNG ships and its competitiveness continues to rise.
On January 15, Jiangnan Shipbuilding and China Shipbuilding Trading officially signed a construction contract for two 175,000 cubic meter large liquefied natural gas (LNG) carriers with Singaporean shipowner Eastern Pacific Shipping (EPS). This is Jiangnan Shipbuilding's third "New Year's gift" for 2026, following the previous order of two VLAC ships from EPS and the order of 12 18,000TEU LNG dual-fuel ships from COSCO Shipping Lines.
This is the first large-scale LNG ship order accepted by a Chinese shipbuilding company this year. It is reported that the two new ships are scheduled to be delivered in 2028, and the specific amount has not been announced; for reference, Clarkson data shows that the current price of a 174,000 cubic meter large LNG ship is US$248 million (approximately RMB 1.729 billion), a 3.5% decrease from US$257 million in the same period last year.
The ship type signed this time is the second-generation 175,000 cubic meter LNG carrier independently developed by Jiangnan Shipbuilding. Based on the first-generation design, the main dimensions, hull line shape and overall layout have been further optimized. It is equipped with Jiangnan Ship Intelligence System (JNIS), which has the advantages of lower overall energy consumption, better terminal compatibility, and smarter operation and maintenance.
