China overtakes South Korea in monthly orders for LNG carriers

Chinese shipyards have overtaken South Korea for the first time in monthly orders for LNG (Liquefied Natural Gas) carriers. According to data from British shipping consultancy Clarkson Research, out of a total of 7 large LNG carrier orders received worldwide in October, China secured 5 orders, while South Korean shipbuilders received only 2 orders.

Due to increasing demand and a narrowing technology gap, China has challenged South Korea's long-standing dominance in this sector. Looking at the figures for the first 10 months of this year, out of 76 large LNG carrier orders received globally, Chinese shipyards secured 32 orders, while South Korea secured 44 orders.

An LNG carrier is a tank ship designed for the transport of liquefied natural gas. These vessels are designed to keep the gas at an extremely low temperature of approximately -162°C. A special insulated containment system is used to keep the gas in liquid form, which reduces the gas volume by 600 times. This technology ensures safe transport for delivering gas to areas without pipelines, such as Asia and Europe.