Korean shipyards to get LNG boost

South Korean shipbuilders are expected to win the bulk of global orders for liquefied natural gas (LNG) carriers this year thanks to their capabilities to build such ships, industry sources said.

Three of the country’s shipbuilders, Daewoo Shipbuilding & Marine Engineering, Samsung Heavy Industries and STX Shipbuilding, have clinched the world’s 12 LNG ship orders placed so far this year. Samsung received orders for six LNG carriers to date this year, followed by Daewoo with five orders and STX with one.

About 40 to 60 LNG ships are expected to be ordered worldwide this year by countries such as Nigeria, Angola, Spain and Australia, according to the sources. Daewoo is expected to receive orders for up to 30 LNG carriers from Nigeria as the company has friendly relations with the African country by participating in the development of an offshore oil field, a company official said.

Samsung is also stepping up its efforts to secure more LNG ship orders while STX is pushing to gain more as well.