Setting a new historical high! South Korean shipbuilders see a surge in LNG vessel orders
2018-12-07 09:00
According to Yonhap News Agency, the performance of South Korea's three major shipbuilders has been remarkable this year, thanks to a surge in new orders for LNG carriers, and they are expected to achieve their annual order targets.
Clarkson's data shows that as of December 6, the three major South Korean shipbuilders had received a total of 52 LNG carrier orders. Hyundai Heavy Industries Group received the most orders with 25 LNG carriers, followed by Daewoo Shipbuilding & Marine Engineering with 14, and Samsung Heavy Industries with 13. This is almost five times the number of orders received last year, when South Korean shipyards received a total of 11 LNG carrier orders.
According to Clarkson's statistics, a total of 62 new LNG carrier orders have been placed globally this year, with 53 secured by South Korean shipbuilders and the remaining 9 by shipyards in China, Japan, and Singapore. South Korean shipbuilders account for approximately 86% of global LNG carrier orders, a record high.
Researchers from the Korea Maritime Institute stated that in the LNG carrier market, South Korean shipbuilders' new orders are mainly for large vessels, while Chinese and Japanese shipbuilders receive orders for the remaining medium and small vessels. From this perspective, South Korea virtually controls the entire LNG carrier market.
Industry insiders believe that with the increase in orders, South Korea's three major shipbuilders are expected to achieve their annual order targets this year.
It is understood that Hyundai Heavy Industries Group has received 146 new ship orders this year, with a total value of US\$12.5 billion, including 25 LNG carriers, 50 container ships, and 51 tankers. In early December alone, the group received three new ship orders. Hyundai Heavy Industries Group's annual order target this year is US\$13.2 billion, and it has currently achieved 95% of its target.
Daewoo Shipbuilding has received 42 new ship orders this year, with a total value of US\$6.04 billion, including 14 LNG carriers, 16 VLCCs, 7 ultra-large container ships, and 5 specialized vessels, achieving 83% of its annual order target (US\$7.3 billion).
Samsung Heavy Industries has received 44 new ship orders this year, with a total value of US\$5.4 billion, including 13 LNG carriers, 13 container ships, 15 tankers/shuttle tankers, and 3 specialized vessels, achieving 66% of its annual order target (US\$8.2 billion).
Considering the fact that global new ship orders usually increase significantly in December and January, if additional LNG carrier orders are received this month, Hyundai Heavy Industries Group and Daewoo Shipbuilding will be able to achieve their order targets this year.
“Global demand for LNG carriers is expected to further increase, mainly due to the United States actively promoting energy exports and China's environmental protection energy policies,” said Bae Se-jin, an expert at Hyundai Securities.
The number of LNG importing countries has increased from 17 in 2007 to 40 last year, and the number of North American LNG suppliers is also growing, all of which have boosted demand for LNG carriers. Clarkson predicts that the demand for LNG carriers will further increase to 69 next year, with an average annual demand of 66 LNG carriers from 2017 to 2021. The order volume for LNG carriers is expected to continue to increase in the future.
Related News
Address: No. 6, Xingyuan Avenue, Rucheng Street, Rugao City, Jiangsu Province
Tel: 86-513-87268999、86-513-7268666
Fax: 86-513-87268998
Email: info@ntlw.com
WeChat：15335077201
WeChat Official Account
Video account
Douyin account
Copyright © 2025 Nantong Liwei Machinery Co., Ltd.丨Powered by:www.300.cn丨SEO