{
  "id": 10293453,
  "title": "Korea’s LNG Carrier Edge Faces China’s Rise",
  "url": "https://urgent.news/2026/09/27/koreas-lng-carrier-edge-faces-chinas-rise",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-27T21:00:48.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/koreas-lng-carrier-edge-faces-chinas-rise/"
  },
  "original_language": "en",
  "account": "China's liquefied natural gas (LNG) carrier order volume has rebounded this year after a slump last year. With large private shipyards gearing up to place orders for LNG carriers, competition is expected to heat up. While a distinct technological gap with Korean shipbuilders persists, there is a growing push for Korea to enhance its competitiveness in next-generation vessels to counter China's ambitions. According to Clarkson Research, from January to September 18th of this year, a total of 66 LNG carriers were ordered globally. Korea secured 61.2% of this market with 40 vessels, whereas China held 38.8% with 26 vessels. However, China's market share has dipped from 42.8% in 2024 to just 8.1% this year. Hengli Heavy Industry, which previously held the record for the largest order backlog for a single shipyard, plans to add LNG carrier orders to its portfolio, likely in the near future. This surge in Chinese shipyard capacity, which could expand from five to six, is fueled by a booming shipbuilding industry, driven by the Iran war. The heightened demand for large oil tankers and uncertainties in the crude oil supply chain have pushed Chinese shipbuilders to secure substantial orders. Despite the challenges, the domestic shipbuilding industry remains wary, citing the complexity of replicating Korean shipbuilding capabilities, particularly in the high-tech aspects of LNG carriers. While China's rapid production growth and accumulating experience pose a threat, the industry acknowledges that the unique technology Korea has controlled could become less exclusive as more Chinese shipyards acquire the required licensing.",
  "summary": "China’s liquefied natural gas (LNG) carrier order volume, which faltered last year, is showing a recovery trend this year. In addition, as large private Chinese shipyards prepare to place orders for LNG carriers, competition is expected to become even fiercer. The prevailing view is that a distinct technological gap with Korea still exists, but voices ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}