South Korea, China Clash Over LNG Carrier Market

AI Summary

South Korean and Chinese shipbuilders are intensifying competition in the market for large LNG carriers. China is expanding shipyard capacity and pursuing larger vessels, while South Korea's shipbuilding sector is responding to defend its position.

Fierce competition is unfolding between South Korea and China in the market for large liquefied natural gas (LNG) carriers, which represent high value-added vessels. As China initiates a pursuit by putting forward a volume offensive through shipyard expansion and the ultra-upsizing of vessels, the South Korean shipbuilding industry is stepping up to maintain a super ...