Surpassing , China tops LNG shipbuilding inking $9.8 billion worth of orders in 2022
China is making fast inroads
in the market for newbuilt
LNG tankers as
global shipowners turn to
its shipbuilders, rather than
S. Korean ones with higher costs
Three Chinese shipyards
won nearly 30% of record
163 orders in 2022,
worth an estimated
$9.8 billion, about five times
their 2021 order values
The Shanghai-based
Hudong-Zhonghua Shipbuilding
is the only Chinese yard with
experience building large
LNG carriers, delivering dozens
going back to 2008
Four other yards,
including the time-honored
Jiangnan Shipyard were
certified to build large
LNG carriers in 2022,
attracting more foreign orders
LNG tankers,
like aircraft carriers,
are among the most difficult vessels
to build, taking up to
30 months
For membrane-type
containment tanks alone,
200 workers spend two months
welding barrier walls
made of paper-thin steel and
130 km of connecting lines
By late November,
Chinese yards had grown
their LNG order books to 66 from 21,
giving them 21% of global orders
worth around $60 billion
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