Bestobell Marine, part of the President Engineering Group, has received its third order in the past 12 months from Hudong Zhonghua shipyard in China.
The deal involves the supply of 460 cryogenic miniature needle globe valves per ship for four Teekay/CNOOC/China Shipping Group LNG (liquefied natural gas) Carriers to be built at the shipyard, which will be chartered by BG Group.
Bestobell Marine has already secured orders for its cryogenic globe and check valves, as well as its unique FLIV (float level isolation) valves, for ten LNG Carriers currently under construction at the shipyard, with this latest orders completing the hat trick for the company.
Duncan Gaskin, Sales Director at Bestobell Marine, said, “This third contract with Hudong Zhonghua is testament to our expertise in developing cryogenic valve solutions for the marine sector globally. We see huge potential in the Chinese market over the next five years, which opens up very exciting opportunities for Bestobell Marine to become the leading supplier of cryogenic valves for vessels in China.”
China is a key market for Bestobell Marine as the Chinese Government signs contracts to import LNG (liquefied natural gas), requiring new vessels to be built. These contracts are expected to increase China’s market share for new build LNG Carriers substantially.