As of Nov 19, South Korea had around $33.9B worth of ship orders for 2024. If a major FLNG order, plus a few more vessel orders come into fruition, the figure could rise to $40B. My guess is, it mostly comes down to the FLNG order. Next year’s target is $50B.
I’m not really, really firm on my conviction. But, I think next year’s target is very much dependent on China’s economic situation and to some degree if, and when, than FLNG order is placed.
They mention LNG ships but i saw no mention of green fuels. Still heavy No 8 diesel fuel?
Who is building methanol and ammonia (or ethanol) green fueled ships? Is this major new engine technology or merely an adjustment?
When the article says LNG ships, it means LNG carriers. That’s a segment the South Koreans dominate.
There are two aspects to methanol and Ammonia - cargos and bunkering.
At least that I’ve seen, methanol fueled has primarily been large container vessels, and the large container/liner companies have spilt orders between South Korean and Chinese yards. As far as Ammonia as cargos, that depends on size. South Korean yards dominate on the larger (VLGC) size, Chinese yards seem to have an edge on the smaller sizes.
The article focuses on the “big 3” South Korean shipbuilding entities. There are additional South Korean shipyards. If those firms have the ability, they should pivot towards the smaller size vessels and make it their focus.