EDITORIAL NO 025 | 2022

South Korea this week won contracts worth US$3 billion for 14 liquefied natural gas (LNG) carriers as demand for liquified natural gas (LNG) continues to surge. Chinese energy groups are separately seeking yards to build 15 gas carriers. Chinese yards also reported deals including container ships and a tanker. A multi-billion dollar boxship deal from Europe is on the horizon in South Korea. Reducing pollution was again a dominant theme among smaller vessels, with projects ranging from steel transport freighters to electric harbour ferries. The naval sector was busy, with deals in the United States and Australia worth about US$985 million reported. The German Government is expected to make an offer to buy an insolvent yard.