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South Korea yards win most LNG newbuilding orders in Jan, Feb

Clarksons Research announced on March 8 that 41 shipbuilding orders (1.29 million CGT) were placed worldwide last month and South Korean shipbuilders won 16 (860,000 million CGT) while Chinese and Japanese shipbuilders won 15 (340,000 million CGT) and three (40,000 million CGT), respectively.

“For the first two months of this year, South Korean and Chinese shipbuilders’ track records were 2.81 million CGT and 2.01 million CGT, respectively,” it said, adding, “Last month, LNG carrier orders totaled seven and South Korean shipbuilders won all of them.”

In January and February, the number of large LNG carrier orders was 22, including 15 won by South Korean shipbuilders. The average price of this type of ships reached US$218 million last month, the highest in the industry.

These days, the global demand for large LNG carriers is increasing fast under strict environmental regulations. The orders added up to 1.89 million CGT in January and February, up 1,012 percent from a year ago. Qatar Energy is planning to place at least 100 such orders for six years to come.

The type with the second-highest average price is large container carriers and South Korean shipbuilders are distinguishing themselves in this market segment as well. In January and February, 22 orders were placed in the segment and 16 went to South Korean shipbuilders. Last month, the average price was US$148.5 million.

Source: Business Korea

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