Korea Dominates global LNG carrier Orders asโข china Falls Behind in Key Technology
SEOUL, Oct. 4, 2025 -โ South Korean shipyards are securing a sweeping majority of global orders for Liquefied Natural Gas Carriersโ (LNGCs), โa complex vessel โฃtype โขrequiring specialized โคcryogenic technology, whileโ China strugglesโ to compete in this high-value โsector. Theโ dominance underscores ongoing challenges related to trust and technological expertise in the globalโข market,โ particularly concerning the transport of โขultra-cold โฃcargo at -163 degrees Celsius.
LNGC โconstruction demands complex โcryogenic cargo holds, advanced propulsion โsystems, and adherence to stringent environmental regulations – hurdles proving challenging forโ Chinese shipbuilders to overcome. This โคtechnological gap allows โขKorea to maintain a lead in the lucrative LNGC โmarket, despite China’s increasing presence in other vessel types. The situation is particularlyโฃ noteworthy as the United States prepares to significantly expand its LNG exportโค capacity,โ potentially driving further demand for these specialized carriers.
While China is gaining ground in constructing LNG bunkering shipsโ and dual-fuel โcontainer โvessels โฃ- representing a lowerโ degree of โconstruction difficulty – Korea continues to excelโ in the more โcomplex LNGC sector. Denmark’sโ Maerskโ has commissioned Chinaโ to build 14 of its 20 โขdual-fuel container ships (rangingโ from 9,000 to 17,000 โTEU),โ and France’s CMA โCGM is in discussions โขwiht Dalian Shipyard (DSIC) for up to 10 โdual-fuel container ships (22,000 TEU). These dual-fuel container ships are typically priced around 200 billionโ won per vessel, significantly less than the โข350 billion+ won cost of an LNGC.
The anticipated doubling of U.S.โฃ LNG export capacity โbyโข 2028, as predicted by the โU.S. Energy Information management (EIA), is expected to fuel โคcontinued demand for โขLNGCs. Despiteโ technological advancements inโ China, an industry insider stated, “Korea will beโค able to maintain its lead inโ high value-added โคmarkets suchโ as โขlarge-scale LNGC for several more years.”