South Korean media: South Korea's share of LNG carrier orders is declining, while China is closing the gap! On April 7, South Korean media "Today Finance" published an article stating that South Korea has continued to dominate the global liquefied natural gas (LNG) carrier market with its ultra-low temperature storage technology and high-manganese steel and other unique technologies. However, some analysts believe that China's technical pursuit centered on price is extraordinary, and it is necessary to accelerate steps in terms of technological differentiation. In particular, since the second Trump administration in the United States took office, the LNG market has grown rapidly, and the demand for ships transporting LNG has also increased significantly. Industry insiders analyze that maintaining an advantage in this market will be the key to sustaining South Korea's shipbuilding industry's heyday. According to industry sources, South Korea's shipbuilding industry's market share of LNG carrier orders has dropped from 80% in the past to around 60% recently. Since liquefied natural gas must remain in liquid form at temperatures below -162℃, ultra-low temperature storage technology is considered a critical competitive advantage. Compared with conventional nickel steel, POSCO's high-manganese steel offers significant advantages in cost-effectiveness and performance. It maintains high strength and durability even in extremely low-temperature environments, making it an innovative material for manufacturing LNG carriers and tanks. Major South Korean shipbuilders such as HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean have successively secured multiple large-scale LNG projects, proving their technological superiority. While South Korea leads with its unique technical prowess, China is rapidly narrowing the technological gap and accelerating its pace of catching up in the LNG carrier market. Leading Chinese shipbuilders like China State Shipbuilding Corporation are actively investing in developing LNG carriers, floating storage, and regasification units. China holds a favorable position in order competition, boasting price competitiveness. The strategy of winning projects at lower prices while maintaining quality close to South Korean standards is proving effective. South Korean shipbuilders are undergoing massive facility investments and accelerating technological innovation to counter China's strong pursuit. Compared to last year's investment of 3.441 trillion won, HD Hyundai Heavy Industries has increased its facility investment by approximately 10% this year. Samsung Heavy Industries plans to invest 355.9 billion won in facilities this year, which is more than double the amounts for 2023 and 2024 combined. A South Korean industry insider stated, "It is true that China's technology is developing rapidly, but South Korea still leads in terms of the maturity of technology. To maintain our technological advantage, we are promoting product diversification." [Image: //p3-sign.toutiaoimg.com/tos-cn-i-ezhpy3drpa/497ca22452274252a145e3461fa3b057~tplv-obj:1920:1080.image?_iz=97245&bid=15&from=post&gid=1828748413469066&lk3s=06827d14&x-expires=1751760000&x-signature=xmpq4tO74P68Stg6N8K5E%2FYkGMo%3D] Original source: https://www.toutiao.com/article/1828748413469066/ Disclaimer: This article represents the views of the author alone.