Samsung Heavy Industries, Hanwha Ocean and HD Hyundai Heavy Industries have collectively secured orders for 10 liquefied natural gas (LNG) carriers valued at least $1.8 billion, reinforcing South Korea’s dominance in the high-value gas carrier shipbuilding segment.
Industry sources said the contracts reflect sustained global demand for LNG transportation capacity as countries continue to expand natural gas imports to support energy security and transition away from higher-emission fuels. The new vessels are expected to be deployed on major intercontinental trade routes linking gas-producing regions with Asia and Europe.
South Korean shipyards continue to lead global LNG carrier construction due to their advanced design capabilities, high efficiency standards and strong delivery track record. Analysts noted that LNG carriers remain among the most technically complex commercial vessels, requiring specialised containment systems and fuel-efficient propulsion technologies.
The latest order win further strengthens the orderbooks of the three major Korean builders, which have seen consistent demand driven by long-term LNG supply contracts and growing investments in global gas infrastructure. Shipbuilders are also increasingly focusing on eco-friendly vessel designs, including dual-fuel propulsion systems and improved emissions performance.
Market experts said the LNG shipping sector is expected to remain robust over the coming years, supported by expanding LNG export projects in the United States, Middle East and Africa, as well as rising import demand from Asia. However, they also cautioned that geopolitical risks, fluctuating energy prices and shipyard capacity constraints could influence future order timing and delivery schedules.
The development underscores South Korea’s continued leadership in the global LNG carrier market, with its shipbuilders maintaining a strong pipeline of high-value orders amid a competitive global shipbuilding landscape.
