(29 April 2025, Hong Kong) – CIMC Enric Holdings Limited, a global leader in clean energy key equipment manufactures and engineering services (collectively, “CIMC Enric” or the “Company”) (stock code: 3899.HK), announced that its LNG power package and marine tank businesses for inland river clean energy vessels have achieved remarkable growth under favorable policy tailwinds. Since December 2024, subsidiaries CIMC Blue Water Technology Development (Guangdong) Co., Ltd. and Jingmen Hongtu Special Aircraft Manufacturing Co., Ltd. have collectively secured over RMB 400 million in new orders, representing a 200% increase. The Company captures over 50% market share in relevant segments.
In line with the global push for decarbonised waterborne transport, CIMC Enric has proactively established a comprehensive business ecosystem of inland rivers and sea. This includes LNG power packages for inland vessels, marine LNG bunkering services, river-sea-direct LNG vessel construction, and sea-direct LNG carrier and bunkering vessel construction. The Company has now established leading market positions across all these business segments, with significant gains in market share.
CIMC Enric secured Nearly 300 Vessel Orders
Following the August 2024 joint release of the “Implementation Rules for Subsidies for the Scrapping and Renewal of Old Operational Ships in Transportation” (“Rules”) by the Ministry of Transport and the National Development and Reform Commission of China, the market demand for vessel upgrades has soared. Industry forecasts predict that the annual number of newly added or retrofitted ships will be between 1,500 and 2,000 per year over the next four years, with a cumulative total of 6,000 to 8,000 ships over four years.
Within three months of the policy rollout, CIMC Enric secured orders for 100 LNG power packages from leading regional operators, including Changhang Freight Co., Ltd., and Jining Energy Development Group Co., Ltd. To date, the Company has accumulated nearly 300 vessel orders worth over RMB 600 million, capturing over 50% of the market share.
Under to the "Rules", inland cargo vessels aged over 15 years old (exclusive) and up to 30 years (inclusive), and passenger vessels aged over 10 years (exclusive) and up to 25 years (inclusive), are eligible for renewal subsidies. This means that by the policy deadline of December 31, 2028, a substantial portion of conventional fuel-powered vessels built in the range of 10–15 years will need to be phased out.
Due to its advanced product technologies and integrated business model, CIMC Enric is well-positioned to lead the market. With the policy entering full implementation in 2025, the Company anticipates considerable growth across its clean energy marine business segments.
Full Waterway Clean Energy Solutions Rolled Out
In addition to supporting inland waterway vessels, the latest “Rules” also extend subsidies to coastal cargo and passenger vessels. Industry analysts have emphasised that the expanded scope and increased intensity of the subsidies not only provide stronger economic incentives for phasing out aging vessels but also accelerate the large-scale adoption of new energy and clean energy vessels. This marks a pivotal shift toward a green shipping era, with clean energy vessels poised to become mainstream.
CIMC Enric’s clean energy vessel business covers LNG power packages and fuel supply systems for inland waterways, construction of river-sea direct LNG vessels, and the construction of marine LNG bunkering vessels. In 2024, the Company captured approximately 50% of the global market share in the small- and medium-scale marine LNG bunkering vessel segment.
To align with the trend of energy clean-up in domestic inland river transportation, CIMC Enric has launched an innovative “one-click tank swap” model. This solution addresses long-standing challenges in LNG refuelling, such as long refuelling times and the need to dock. With this, a 17-tonne LNG fuel tank can be replaced in just 20 minutes, greatly enhancing operational efficiency and flexibility.
The Company has also developed proprietary Internet of Ships (IoS) technology that integrates both waterway and land-based networks, boosting the intelligence and efficiency of inland water transport.
As a pioneer in the clean energy transformation for inland waterway vessels, CIMC Enric delivers not only “equipment + processes + services” one-stop solutions, but also proactively anticipates long-term trends such as automated refuelling and intelligent transportation. The Company is strategically positioning itself to set industry benchmarks.
