China is widening its presence in global shipbuilding as vessel replacement demand drives a long order cycle. The shift is also increasing pressure on South Korean yards in tankers and LNG carriers.
Japan is moving to resume LNG carrier construction after seven years, supported by shipbuilder consolidation and a government-backed capacity expansion plan.
Ocean Yield and NYK have made effective an eight-ship 200,000 cbm LNG carrier programme at HD Hyundai Heavy Industries, valued at about $2.08 billion, with delivery expected by 2029.
Bureau Veritas Marine & Offshore (BV) issued AIPs for five Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. projects spanning LNGCs, an LNG FSRU, a ULEC, OCC-ready design and 3D classification.
Samsung Heavy Industries and QSTS signed an agreement in Doha to start with retrofits and after-market services while reviewing decarbonization, energy-saving systems and onboard carbon-capture options.
GTT signed with HD KSOE to supply liquid cargo tank design for four 200,000 m³ LNG carriers at HD Hyundai Heavy Industries, with deliveries planned from Q3 2028 to Q1 2029.
GTT signed tank design contracts with Hanwha Ocean, Samsung Heavy Industries and HD KSOE for seven 174,000 m³ LNG carriers, using Mark III Flex and NO96 Super+ systems with deliveries from 2028 to 2029.
A Seoul court has ordered KOGAS to pay KRW299.6bn to Samsung Heavy Industries after defective LNG cargo tanks on SK Serenity and SK Spica led to costly repairs and claims by SK Shipping.
Korea’s big three shipbuilders are expected to secure $46.4 billion in 2026 orders and generate combined operating profit of 10.124 trillion won, driven by strong LNG carrier demand and Korea’s dominant market share.
