South Korea’s largest newspaper Chosun recently reported in its Chinese Edition that, of the sixteen liquefied natural gas (LNG) carriers ordered globally this year, fourteen were taken by South Korean shipyards, while Chinese shipyards failed to secure any orders. The remaining two ships were won by the United States, and these orders will be manufactured by the Philadelphia Shipyard acquired by South Korean Hanwha last year.
Following the relatively easy-to-build container ships and bulk carriers, China has begun to undertake a large number of orders for LNG carriers, which require higher technical standards. Previously, the LNG carrier newbuilding market was dominated by South Korea and China. In 2022, South Korea held a 67.5 percent share of the LNG carrier newbuilding market (115 ships), while China held a 32.5 percent share (56 ships). Last year, this gap narrowed, with South Korea holding 57.2 percent (48 ships) and China 42.8 percent (28 ships). China’s Hudong-Zhonghua Shipbuilding received orders for 24 LNG carriers last year, making it the world’s largest shipyard by orders for LNG carriers.
However, with the USTR’s (United States Trade Representative) port restrictions and Qatar’s order book cooling, China’s LNG carrier orders have been halted. Starting from the 14th of next month, Chinese shipping companies or shipping companies operating Chinese ships will be charged a fee of US$50 per ton based on net tonnage (the volume actually used to transport goods or passengers) when entering the United States. Also, frequent breakdowns of Chinese ships have had an impact on China’s reputation.
Source: Chosun Chinese, September 29, 2025
https://cnnews.chosun.com/client/news/viw.asp?nNewsNumb=20250963604&cate=&mcate=