EDITORIAL NO 033 | 2022

Once again, the boom in global demand for natural gas generated newbuilding orders this week. South Korea won a US$238.5 million gas carrier contract for an Asian customer. Korea is also set to win a large order for offshore gas development platforms. By the end of July 2022, South Korea's three major shipyards had achieved nearly 87% of their 2022 full-year order targets, partly thanks to increasing contracts for LNG carriers. Korea also landed orders this week including for container ships. Chinese yards won contracts including for chemical carriers and bulk carriers. China has also started building a second cruise ship as it expands into a sector previously dominated by European yards.