South Korea is continuing to hold its dominant position in tanker delivery of liquefied natural gas (LNG) by winning major shipping orders over the next three years valued at more than $9 billion. It’s all part of an economic sector expected to see substantial growth as LNG becomes an attractive power source for several global markets. Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries, and Samsung Heavy Industries have won more than 50 orders placed for new large-scale LNG tankers for delivery in the next three years. These new ships are expected to increase the global LNG fleet by around 10 percent. All three companies are making the necessary shipyard investments, with expected rising equities, while builders in the key competitive market of Japan are either flat or down. These new mega-vessels are taking off as shipping companies see LNG rebound from a sector-wide slump two years ago. One […]