China Overtakes Korea LNG Carrier Orders, Challenging Korea’s Market Lead

South Korea’s long-standing lead in the global market for large liquefied natural gas (LNG) carriers is facing growing competition. China secured more LNG carrier orders than Korea in October, challenging its position in the high-value shipbuilding segment.

According to Clarkson Research, a British shipbuilding and shipping market research firm, China secured five of the seven large LNG carriers ordered worldwide in October, while Korea won the remaining two. Data released on Nov. 8 showed that global orders from January through October totaled 76 vessels, more than four times the 17 ordered during the same period last year. Korea retained the lead with 44 vessels, or 57.9% of the total, while China secured 32, accounting for 42.1%. China, which received just three LNG carrier orders in all of 2025, has already secured more than 10 times that number this year.

The expansion has been led by Hudong-Zhonghua Shipbuilding and Jiangnan Shipyard. On Oct. 16, Hudong-Zhonghua signed a contract with Malaysian shipping company MISC to build five LNG carriers, each with a capacity of 174,000 cubic meters. The shipbuilder had already secured an order for five vessels from MISC earlier this year, bringing its total orders from the company to 10. It has also expanded production capacity through the Changxingdao Shipyard, a new facility dedicated to LNG carriers that began operations last year. Jiangnan has likewise secured a series of overseas orders, including two 175,000-cubic-meter LNG carriers from Singapore-based Eastern Pacific Shipping (EPS) earlier this year and four vessels from ADNOC Logistics & Services, the shipping subsidiary of the UAE’s state-owned energy company.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →