Monday, January 30, 2023
spot_img
HomeHeadlinesKorea Shipbuilders Win 91% of Global LNG Carrier Orders in Jan-Nov

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Korea Shipbuilders Win 91% of Global LNG Carrier Orders in Jan-Nov

Korean shipbuilders accounted for 91 percent of the global orders for liquefied natural gas (LNG) carriers in the January-November period of 2021.

Korean shipbuilders won 91 percent of the global orders for liquefied natural gas (LNG) carriers in the January-November period of 2021.

The cumulative worldwide shipbuilding orders totaled 44,988,224 CGT during the first 11 months of the year, said Clarkson Research, a British shipbuilding and shipping market analysis company, on Dec. 5. China ranked first with 21,918,790 CGT (48.7 percent), followed by South Korea with 16,957,415 CGT (37.7 percent).

China’s shipbuilding order intake increased in 2021 as it won a large number of container ships. As maritime freight rates soared in 2021, orders for container ships surged 10 times compared to 2020, and China swept orders for container ships with its strong price competitiveness. Container ship orders totaled 19,103,190 CGT between January and November 2021, and China accounted for 59 percent of it. Korea logged 6,596,281 CGT (34.5 percent).

Korean shipbuilders focused on high value-added ships such as LNG carriers and liquefied petroleum gas (LPG) carriers rather than container ships, which are relatively less profitable. During the period, Korea took up 91.0 percent of global LNG carrier orders, which totaled 5,923,793 CGT. China had the remaining 9.0 percent.

Source: Business Korea

Related Posts

Video

Finance & Economy
Shipping News
Ports

Oaktree looking at block sale of existing shares in Hafnia Limited

OCM Luxembourg Chemical Tankers S.à r.l. which is ultimately controlled by funds managed by Oaktree Capital Management L.P. (the "Seller") has retained Fearnley Securities,...

John Fredriksen Increases Stake in Euronav

Norwegian billionaire John Fredriksen has once again increased his stake in Belgian tanker company Euronav in wake of Frontline’s termination of its combination agreement...

First Citizens Bank Arranges $44.2 Million of Debt Financing for Navios Partners

First Citizens Bank announced that its Maritime Finance group, part of the CIT division, served as sole lead arranger on $44.2 million in debt...

Eagle Bulk Appoints Kate Blankenship to Board of Directors

Eagle Bulk Shipping Inc., one of the world’s largest owner-operators within the midsize drybulk vessel segment, announced that it has appointed A. Kate Blankenship...

Golar LNG: Unwind of majority of TTF hedges of 2023 and 2024 Dutch Title Transfer Facility exposure

Golar LNG Limited (“Golar”) announced that it has unwound the majority of its swap arrangements for its Dutch Title Transfer Facility (“TTF”) linked production...

Cyprus shipping making waves – report

Cyprus shipping, the steady driver of the economy, is sailing for better times, having...

Baltic index hits fresh multi-year lows on capesize dip

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Baltic index falls for seventh session on lower capesize demand

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Baltic index hits fresh 2-1/2-year low as larger vessel rates slip

The Baltic Exchange’s main sea freight index extended losses to a sixth straight session...

Baltic index down for fifth day on lower vessel rates

The Baltic Exchange’s main sea freight index fell for the fifth straight session on...

Port of Long Beach Closes 2022 with Second-Busiest Year

The Port of Long Beach marked its second-busiest year on record by moving 9.13 million twenty-foot equivalent units in 2022, allowing for a return...

Hapag-Lloyd AG acquires share in J M Baxi Ports & Logistics Limited

Hapag-Lloyd AG signed a binding agreement today under which it will acquire 35% of J M Baxi Ports & Logistics Limited (JMBPL) from a...

Nigeria opens ‘game changer’ billion-dollar deep seaport

Nigeria opened a billion-dollar Chinese-built deep seaport in Lagos on Monday, which is expected to ease congestion at the country’s ports and help it...

SC Ports handles nearly 3 million TEUs in record 2022

South Carolina Ports had a record 2022 with the most containers ever handled at the Port of Charleston. SC Ports moved nearly 2.8 million TEUs...

January oil loadings from Russia’s Baltic ports set to jump 50% vs Dec

Urals and KEBCO crude oil loadings from Russia’s Baltic ports of Primorsk and Ust-Luga in January are set to rise by 50% from December...