EDITORIAL NO 050 | 2022

With extra shipping capacity presumably still needed to replace Russian supplies to Europe as the war in Ukraine continues, the week again saw more newbuilding business for LNG carriers. South Korea won a US$199 million LNG order said to be from a European customer, while a long-delayed LNG project in Africa is also expected to generate more contracts for Korean yards. Chinese shipyards are winning more LNG carrier orders as Korean yards are increasingly booked up. A Chinese customer was reported to be in talks about building LNG carriers in China this week. China’s other orders this week included crude oil tankers. A European yard won a US$63.7 million contract for a lighthouse supply vessel. In the naval sector, a US$518 million destroyer order was signed in Asia.