EDITORIAL NO 018 | 2023

Another large round of orders for liquefied natural gas (LNG) carriers was placed this week. South Korean shipyards were the main winners with orders worth around US$ 2 billion. Brokers report that shipping companies still expect that Russian gas exports via pipelines to Europe will not resume in the foreseeable future, which means that both Russian gas exports and European gas imports will have to be transported by sea. Chinese shipyards reported important new orders, including container ships, product carriers, and bulk carriers. In the naval sector, a large frigate contract was placed in Asia. The acquisition of South Korea's Daewoo Shipbuilding for US$ 1.49 billion was approved by Korean competition authorities.