Selected Shipyard for Construction of CNG Optimum

and Strategic Alliance Agreement with

CIMC Raffles & CIMC Enric

In April 2018, GEV appointed Clarksons Platou (Clarksons) as its exclusive Ship Broker. Clarksons are the world’s leading integrated shipping services group and their appointment commenced with the selection and negotiation with a pre-selected list of yards.

  • By December 2018, GEV finalised all technical and commercial discussions as well as schedules based on a firm four ship order and options for a further 2+2 CNG 200 Optimum ships.
  • Clarksons continue to provide ship broking services, structuring and financial advisory services through the appointment of Clarksons Platou Structured Asset Finance Limited in London and Clarksons Platou Securities AS in Oslo.  

In July 2019, GEV entered into a Letter of Intent with Yantai CIMC Raffles Offshore Limited to build the CNG Optimum 200MMscf ship. GEV and CIMC Raffles will now progress to a firm 4 (and option for additional 4 ships) shipbuilding EPC contract.

In October 2019, GEV entered into a Strategic Alliance Agreement with CIMC Raffles and CIMC ENRIC. CIMC Raffles and CIMC ENRIC will develop an  EPC Contract for the construction and commissioning of all CNG facilities and shipbuilding to implement an integrated “EPC Wrap”.

This will significantly mitigate CNG project execution risk, such as delivery and pricing, to assist in the financing of future projects.

  • CIMC Raffles is part of the CIMC Group, which is an international corporation providing high-quality offshore equipment and contract services to clients all over the world. The core business includes EPC, repairing & conversion and technical service of offshore vessels, drilling rigs, production platforms, ocean farming, and offshore windmills. CIMC Raffles has an outstanding track record of delivering in excess of USD 6 Billion in EPC contracts since 2012.
  • CIMC ENRIC is part of the CIMC Group, specialising in the design, development, manufacturing, engineering and sales of CNG/LNG/LPG transport and storage equipment.
  • Together they have the expertise to provide EPC services for all key components of a marine CNG project development including gas pipelines, compression facilities, CNG ship loading and receiving terminals and CNG ships.

Yantai Construction Base

  • The Yantai Yard is one of 3 suitable shipyards operated by CIMC to build the CNG Optimum ships
  • One of China’s highest quality shipyards
  • A long history in the construction of offshore units and specialised ships
  • FPSO/FSO, Heavy lift vessels, Pipe-layer, PSV/Anchor-handlers
  • Four Research & Development Centers – 800 Engineers
  • Workforce: 4,000 Employees + Subcontractors
  • Steel fabrication capacity(tonnes/year): 159,500(Offshore)/214,000(Marine)
  • Area: 500,000m2, Quay Length: >3000m, 20000T Taisun Gantry Crane

Yantai Construction Base focuses on high-end offshore equipment EPC and commissioning

CIMC Yantai Offshore Engineering Institute

  • 93.5 billion RMB (~14.7 billion USD) turn-over in 2018 and ranked among top 100 Chinese enterprises by Fortune China
  • Global operations: 60,000 employees / 300+ subsidiaries / 20 countries
  • Public Company: Listed on Hong Kong and Shenzhen Stock Exchanges

CIMC Raffles – Global Presence


2020 Orderbook

Petrobras FPSO

  • The Petrobras P71 is the first mainstream FPSO contract awarded to CIMC Raffles.
  • The P-71 FPSO will have a storage capacity of 1.6 million barrels and processing capacity of 150,000 barrels per day of oil.
  • It will handle up to 6 million cubic meters per day (210MMscf/d) of natural gas and be fitted with a spread-mooring system.

Wallenius SOL RoRo Vessels

  • Wallenius SOL RoRo Vessels are the biggest LNG powered NB RoRo and biggest ice-class vessels in the industry
  • Specially designed and built to Finnish/Swedish ice class 1A Super standards
  • 241.7 m long and 35.2 m wide, quipped with two Type C LNG tanks
  • Up to four new vessels are ordered and scheduled for delivery in 2021

Shell FPSO

  • Penguin FPSO is a cylindrical design with a processing capacity of 45,000 bbl/day.
  • It will be the first FPSO in the past 30 years that Shell has deployed in the North Sea.
  • This project is to be undertaken by COOEC and CIMC Raffles.

BP Tortue Platform

  • On October 2018, CIMC Raffles signed a FEED contract with BP for Tortue QU Platform (Ahmeyim Field) with the option to convert to an EPC Contract

Construction History

Category Specific Product No. Delivered
Drilling Rig Jack-up Rig 9


Production Unit Floating Production Storage & Offloading / FSO

Jack-up Production Platform



Offshore Specialised Vessel Semi-Sub Accommodation & Crane Vessel

Pipe Lay Vessel

Accommodation Barge

Fallpipe Vessel

Semi-Submersible Heavy Lift Vessel

Anchor Handling Tug Supply Vessel

Platform Supply Vessel