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Korean yards expected to cash in on orders for LNG-powered ships

FRENCH shipping giant CMA CGM, the world's third biggest container carrier, has chosen HAROPA - the French Port of Le Havre to christen its new British-flagged 17,554-TEU Kerguelen. 

Korean yards expected to cash in on orders for LNG-powered ships
17 May 2015 - 21:12
Korean yards expected to cash in on orders for LNG-powered ships

SHIPOWNERS the world over are placing orders for new vessels and increasing numbers of them are to be wholly or partially powered by LNG engines, reports Business Korea.

According to industry sources, Gail of India is planning to purchase nine LNG ships, three from Indian shipbuilders and the rest from foreign ones. 

BP Shipping is discussing LNG ship order placement with three ship owners to reach a conclusion within this month too. 

Engie of France is expected to buy up to four ships for the Cameron LNG Project. Korean shipbuilders boasting of a high level of technical strength are appealing to the ordering parties.

Last year, the top three Korean shipbuilders took 46 out of the 64 orders for LNG ships with a size of at least 150,000 cubic metres each. 

Daewoo Shipbuilding and Marine Engineering took 35 of them, followed by six by Hyundai Heavy Industries, and five Samsung Heavy Industries. This year, the number has been six for Daewoo and two for Samsung.

The LNG ship orders are expected to be a boon for the Korean shipbuilding industry, along with those for large container carriers. 

As of the end of last month, Maersk Line is planning to procure ten 18,000-TEU ships, and CMA CGM is planning on six to seven 20,000-TEUers. Yang Ming is looking to purchase five 14,000-TEU and eleven 20,000-TEU vessels as well.

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