A YORKSHIRE manufacturer is riding high on buoyant demand for ships equipped to carry liquefied natural gas.
Bestobell Marine, a supplier of cryogenic globe and check valves, has secured a contract with the Hudong Zhongua shipyard in China, worth around $2.25m (£1.41m).
The Sheffield company will provide Float Level Insulation Valves (FLIV), securing the float from the cargo tank of Liquefied Natural Gas Carriers (LNGC).
Duncan Gaskin, sales director of Bestobell, said: “In terms of the shipbuilding market around the world, currently South Korea is the number one for LNGC carriers.
“But China is increasing its market share and over the next ten years could become number one.”
This is the third contract that Bestobell has secured with the Hudong Zhongua shipyard in Shanghai and Mr Gaskin believes that it will put the company “on a good stead as the market grows”.
He told The Yorkshire Post: “Overall we must have had just over $10m worth of orders with this shipyard.”
The reason for Bestobell’s success is due to the switch from oil to gas and the subsequent increase in the need for LNGC carriers, said Mr Gaskin.
He added that business was “booming” and “we are very lucky that we are in the right industry, at the right time with the right product”.
The contract was secured with the help of Healthlead Development, which acted as intermediary.
Tommy Zhang, Head of Healthlead’s Shanghai office said: “Relationships and local knowledge count for more here than in any other market.”