South Korean media reports indicate Chinese demand has surpassed South Korea’s, raising questions about the credibility of past skepticism toward China's technological rise.

Korean Media: China’s LNG Ship Orders Surpass South Korea in October

According to a report by Korea’s JoongAng Ilbo on November 9, China is rapidly gaining competitiveness in the global market for large liquefied natural gas (LNG) carrier vessels—a sector long dominated by South Korean shipyards.

Data from Clarksons Research, a maritime industry analysis firm, shows that global orders for large LNG carriers reached 76 units between January and October, more than four times the 17 units recorded during the same period last year. Of these, South Korea secured 44 orders (57.9%), while China captured 32 (42.1%). Last year, China received only three LNG vessel orders for the entire year; this year’s figure exceeds tenfold that amount. In October alone, China won five of the seven global orders, compared to South Korea’s two new orders.

LNG carriers are high-value-added vessels that have served as a core revenue source for South Korea’s shipbuilding industry. Historically, South Korea maintained a competitive edge over China due to its expertise in handling the extreme conditions required—transporting liquefied natural gas at temperatures as low as minus 163 degrees Celsius. However, China has enhanced its technological capabilities and is now expanding its market share through cost-efficiency as a strategic advantage.

Following its expansion into general-purpose vessels such as container ships, China is now extending its influence into specialized segments like LNG carriers. According to Clarksons Research, China’s share of global ship orders stood at 77% by October—up from 65% last year—while South Korea’s share declined to 15%, down from 17% in the previous year.

Original article: toutiao.com/article/1881344106028044/

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