EDITORIAL NO 014 | 2023

A South Korean yard won a US$ 517 million liquefied natural gas (LNG) carrier contract, continuing the recent LNG order surge. Product carriers were in strong demand this week, with large business for South Korea and China. China also won a car carrier deal worth up to US$ 385 million. China’s sharply expanding car exports are repeatedly generating large contracts for car carriers. Chinese business this week also included bulk carriers and tankers. A Middle Eastern country is expected to start a new wave of orders for liquefied natural gas (LNG) carriers. Some 17 naval vessels of new designs were ordered from Indian yards. A new report estimates that US$ 20 billion of investment is required globally to build about 200 new offshore support and construction vessels if the renewable energy industry is to be able to meet its 2030 targets for offshore wind production.