Yards Battle for CNG Marine First
Four Asian shipyards are vying to build a fleet of compressed natural gas (CNG) vessels destined for Vietnam in what is primed to be the world's first marine CNG project.
Industry sources said yards in South Korea and China have submitted provisional technical bids for four newbuild vessels that would handle gas from state-owned PetroVietnam's Dai Hung field.
The client is TransCNG International, a joint venture of New York-based Overseas Shipbuilding Group (OSG) and Trans- Canada Pipelines in Calgary, which have been working on this and other marine CNG schemes for two years.
