Feb. 12, 2010 (China Knowledge) - Hudong-Zhonghua Shipbuilding (Group) Co Ltd, a subsidiary of China State Shipbuilding Corp, on Feb. 7 signed a contract with a Shanghai-based LNG shipping firm to build a LNG transport ship, sources reported.

The ship will deliver LNG from Malaysia to Shanghai for around 20 years. The contract has received support from the National Development and Reform Commission, the National Energy Administration and Bank of China<601988><3988>.

Five LNG ships built by Hudong-Zhonghua Shipbuilding have been put into operation in two LNG terminals, one in Guangdong Province and one in Fujian Province.

According to China State Shipbuilding's website, the state-owned group aims to increase its shipbuilding capacity to 14 million deadweight tons by 2015 from the current 4 million deadweight tons.

China CSSC Holdings Ltd<600150> is a major subsidiary of China State Shipbuilding.