Hudong-Zhonghua Shipbuilding Aims for LNG Dominance
Hudong-Zhonghua Shipbuilding (Group) Co Ltd, a leading player in the global liquefied natural gas (LNG) carrier market, is set to enhance its capabilities significantly during the upcoming 15th Five-Year Plan (2026-30). The Shanghai-based shipyard currently holds the largest number of LNG ship orders worldwide, with a total of 57 vessels, representing a substantial 21.89 percent of the global market share. Chairman Chen Jianliang announced that the company’s order value has surpassed 150 billion yuan (approximately $21.76 billion) as of the end of 2025, showcasing its robust growth trajectory.
Record Growth and Future Aspirations
In 2025, Hudong-Zhonghua reported impressive financial results, with a 20 percent increase in revenue compared to the previous year. Operating profits soared by an astonishing 380 percent, reflecting the shipbuilder’s successful strategies and operational efficiencies. The company completed the construction of 13 LNG ships and delivered 11 during the same year, underscoring its commitment to meeting growing global demand.
Despite these achievements, Chen emphasized the need for continuous improvement. He noted that while China has maintained its status as the world’s largest shipbuilding nation for over 15 years, it still faces challenges in the high-end shipbuilding sector, which is largely dominated by South Korea and Western European countries. During a recent forum at Fudan University, Chen highlighted the importance of focusing on high-end shipbuilding to enhance competitiveness.
According to data from the Ministry of Industry and Information Technology, Chinese shipbuilders led the industry in key performance indicators in 2025, completing 56.1 percent of global orders, securing 69 percent of new orders, and holding 66.8 percent of the world’s vessel orders. Li Yanqing, secretary-general of the China Association of the National Shipbuilding Industry, stated that Chinese shipyards are committed to advancing high-quality development and integrating more deeply into the global industrial value chain.
GTT to Design Tanks for New LNG Bunkering Vessel Ordered by Hudong-Zhonghua Shipbuilding
Innovations in LNG Carrier Construction
Hudong-Zhonghua is at the forefront of innovation in the shipbuilding industry, particularly in the construction of ultra-large container vessels and LNG carriers. The shipyard began building its first ultra-large dual-powered containership in 2018 for the French shipping giant CMA CGM Group, which has a capacity of 23,000 TEUs (twenty-foot equivalent units). As of 2025, Chinese shipbuilders collectively hold 80 percent of the global market share in order volume.
However, the development of LNG carriers presents unique challenges. The shipyard took four years to deliver its first LNG vessel after receiving its initial orders in 2004. The construction timeline has significantly improved, with the current minimum construction period reduced to just 16 months. To date, Hudong-Zhonghua has successfully delivered 60 large LNG vessels, showcasing its expertise in this specialized field.
LNG carriers are designed to transport liquefied natural gas at temperatures below -163°C, ensuring cost-efficient shipping. Each vessel can carry 174,000 cubic meters of LNG, which can supply a city with a population of 3 to 4 million for a month once gasified. As Hudong-Zhonghua continues to innovate and expand its capabilities, it aims to solidify its position as a leader in the global LNG shipping market.
