China seizes LNG bunkering vessel market as Korea loses lead
China appears to have monopolized new orders for LNG bunkering vessels (LNGBV) that supply fuel to liquefied natural gas (LNG) propulsion ships at sea. Although Korean shipbuilders once led the market by building the world’s first LNGBV, they have ceded the lead. According to Clarksons Research, a British shipbuilding and shipping market analysis firm, as ...
China has seized control of the LNG bunkering vessel market, effectively eliminating Korea's previous dominance, according to Clarksons Research. As of the end of last month, seven new LNGBV orders were placed worldwide, all of which went to Chinese shipbuilders. Last year, Korea secured seven orders out of 24, but in 2024 and 2025, China's share grew to 56% and 66%, respectively.
The LNGBV, serving as an offshore gas station for LNG carriers or LNG dual-fuel container ships, was first built in 2017 by HJ Shipbuilding & Construction. With about 30 LNG bunkering vessels currently under construction and the number expected to rise to 165–208 by 2030, analysts predict that the demand for these vessels will continue to grow as the LNG propulsion ship market expands.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
