South Korea’s three largest shipbuilders are forecast to post 9.04 trillion won in annual operating profit, with LNG carriers and higher shipyard productivity supporting further gains.
ADNOC Logistics & Services has ordered four 175,000 m³ LNG carriers from Jiangnan Shipyard for $900 million, with all four vessels scheduled for delivery in 2029.
Chinese shipyards doubled new order volume in the first half of 2026, securing 1,131 vessels and about 72% of global market share, according to Clarksons.
COSCO Shipping Energy Transportation, Shell and Jiangnan Shipyard have signed a construction agreement for four 175,000 cu metres LNG carriers to serve Shell under long-term charter agreements.
Korea’s Big Three shipbuilders are forecast to post a combined 14.5% operating margin in Q2 as LNG carriers, FLNG projects and higher-value orders lift profitability.
BW LNG, part of BW Group, has ordered two more LNG carriers at HD Hyundai Samho, while TMS Cardiff Gas is linked to a separate Samsung LNG carrier deal.
BIMCO said the global shipping orderbook reached 191.0m cgt at the end of the first quarter of 2026, equal to 17% of the world fleet and the highest ratio since 2011. First-quarter contracting rose 40% year-on-year, led by tanker orders and a rebound in LNG tanker contracting, while yard lead times and engine supply constraints remained key issues.
Novatek has created Severny Inzhiniring, a shipbuilding subsidiary for ice-class LNG carriers and condensate tankers, as foreign yard access remains restricted.
Bloomberg, citing Kpler data, reported that nearly 50 LNG carriers used by Qatar are idle across Asia, representing at least 3.456 million tonnes of carrier capacity.
