Shipbuilders chart new course on clean transition

The construction of six dual-fuel powered PCTCs will help further enhance Waigaoqiao Shipbuilding's market share and international influence, experts said.

Zhou of the Shanghai International Shipping Institute's domestic shipping research office, said China's robust automotive exports over the past few years have driven demand for shipping and manufacturing capacities of PCTCs.

Despite a 17 percent year-on-year growth in automotive transportation capacities to 23.7 million units in 2023, the shortage of car shipping capacity can hardly ease off in the near future, Securities Daily reported, citing an estimate by shipping industry data provider Clarksons.

In the first 11 months of 2023, 4.4 million vehicles were exported, surging 58.4 percent year-on-year, said the China Association of Automobile Manufacturers.

China Merchants Industry Holdings Co Ltd has also tapped into the green trend by releasing an ultra-large intelligent PCTC vessel model with a capacity of 11,000 parking spaces at Marintec China 2023.

The new generation green PCTC ship received design certification from DNV along with a 180,000 cu m LNG carrier model and a 200,000 cu m LNG ship at the event.

Zhu said the net-zero regulations will profoundly affect the development pattern of the world's shipbuilding industry in the next few decades, offering opportunities that the Chinese shipbuilding industry cannot afford to miss.

According to Zhu, the Marine Design and Research Institute of China also exhibited a batch of green, energy-saving and low-carbon ships, including a 20,000 cu m liquefied hydrogen carrier, an ultra-large 102,000 cu m ethane carrier, a 40,000 cu m liquefied carbon dioxide carrier, and an 88,000 cu m liquefied gas carrier.

"There is still room for China's shipbuilding industry to grow, particularly in high-end vessels. The research, development, and construction of these innovative ships will help upgrade talent and techniques, and further raise the standard and quality of Chinese shipbuilding as a whole," Zhou said.