On January 14, the investment cooperation signing ceremony for the Huaxiang High-End Gas Vessel Shipbuilding and Offshore Equipment Manufacturing Base Project was held in Xuwu New District, Lianyungang, Jiangsu Province. Zhou Jin, Deputy Secretary of the Lianyungang Municipal Party Committee and Acting Mayor, met with Cai Dejiang, Chairman of Zhejiang Huaxiang Shipping Co., Ltd., and his delegation, and witnessed the signing.
Zhou Jin stated that Lianyungang is currently focusing on building a modern industrial system represented by port-related industries and vigorously developing the marine economy and high-end equipment manufacturing industry. The Huaxiang project, leveraging the unique conditions of the Xuwei New Area’s port and waterways, focuses on developing high-tech ships and marine engineering equipment encouraged by the state, which aligns perfectly with Lianyungang’s industrial development direction. This project will effectively drive the coordinated development of upstream and downstream high-end equipment manufacturing industries and is of great significance to the transformation of Lianyungang’s marine equipment manufacturing industry towards high-end, intelligent, and green development.
Zhou Jin also mentioned that he hopes enterprises will fully leverage their technological, market, and management advantages to promote the early commencement, completion, and effectiveness of projects. The Lianyungang Municipal Party Committee and Government will strive to create a first-class business environment, provide comprehensive service guarantees, support enterprises in their development and growth in Lianyungang, and jointly build a high-end marine engineering equipment manufacturing industrial cluster with regional influence.
Cai Dejiang stated that the Xuyu Port Area is a vital component of Lianyungang Port, boasting prominent geographical advantages, convenient land-sea transport links, and comprehensive industrial policies, making it an ideal choice for enterprises to establish coastal operations. Huaxiang Shipping will spare no effort in advancing the project’s construction, striving to develop it into a technologically advanced, green, and intelligent industry benchmark, thereby contributing to Lianyungang’s maritime development and maritime strength.
According to data from AiQiCha, the shareholders of Jiangsu Huaxiang Shipbuilding Co., Ltd. include major shareholder Zhejiang Huaxiang Shipping, actual controller Cai Dejiang, and Yang Meili. Among them, Zhejiang Huaxiang Shipping contributed 306 million yuan, holding a 51% stake; Cai Dejiang contributed 150 million yuan, holding a 25% stake; and Yang Meili contributed 144 million yuan, holding a 24% stake.
As the major shareholder of Jiangsu Huaxiang Shipbuilding, Huaxiang Shipping was established in March 2014. It is a private enterprise specializing in maritime transportation and ship services, with its core business focused on the transport of gases such as LNG. Additionally, it is China’s first private enterprise engaged in coastal interprovincial LNG vessel transportation and one of the first companies approved by the Ministry of Transport to operate LNG transportation services along China’s coastal waters and the middle and lower reaches of the Yangtze River.
Data shows that Huaxiang Shipping owns three subsidiaries: Jiangsu Huaxiang Shipbuilding, wholly-owned Jiangsu Yixiang Shipbuilding, and wholly-owned Zhejiang Huaji Jianghai Lianyun Company. This indicates that beyond shipowning operations, Huaxiang Shipping has expanded into multiple business sectors including shipbuilding and repair, management, and equipment manufacturing. The recently signed high-end gas carrier repair and offshore equipment manufacturing base project represents its latest business initiative.
It’s worth mentioning that Jiangsu Yixiang Shipbuilding, a subsidiary of Huaxiang Shipping, is building the “Pinghu,” the largest LNG carrier in the history of shipbuilding in the Yangzhou Yangtze River region. Invested and built by Huaxiang Shipping, construction began in July 2023 and it is scheduled to be launched in 2025. It is the world’s first 78,900 cubic meter LNG carrier to be classed by the China Classification Society, and is currently the largest Type-C tank LNG carrier under construction in China.