CSSC Holdings(SH:600150) Yang Shi Wang·2025-10-30 09:23Core Viewpoint - The delivery of two domestically developed 17,400 cubic meter LNG carriers marks a significant advancement in China's shipbuilding industry, showcasing the country's capability in producing fifth-generation LNG carriers with internationally leading technology [1][3]. Group 1: Technological Advancements - The newly delivered LNG carriers incorporate the world's first re-liquefaction system and domestically developed exhaust gas recirculation systems, which effectively reduce CO2 emissions during navigation and enhance energy efficiency [5]. - The vessels are designed with advanced collision avoidance systems, improving safety and reliability during operations [5]. Group 2: Production Capacity and Market Position - The recent deliveries indicate a major breakthrough in production capacity, with the company achieving a monthly delivery of four LNG carriers, a significant increase from the previous annual delivery of four to five vessels [7]. - Currently, the company holds over 50 LNG carrier orders, with 24 vessels under construction, and is expected to deliver 11 large LNG carriers in 2025, setting a new national record for annual deliveries [8]. Group 3: Industry Trends and Future Outlook - By June 2025, China is projected to have secured nearly 70% of global green ship orders, with a profit margin in the shipbuilding industry reaching 9.71%, the highest in nearly a decade [11]. - The shipbuilding sector is increasingly focusing on high-end and green technologies, with over 80% of new orders for green vessels, including LNG and methanol carriers, reflecting a shift towards sustainable practices [12]. - The Chinese shipbuilding industry is recognized as the only one globally capable of producing a full spectrum of products to meet maritime industrial needs, emphasizing its commitment to integrating into the global green supply chain [14].