Orders are scheduled until 2028! China’s new LNG ship orders increased by more than 4 times year-on-year

In the past few years, everyone was envious of the year-end bonuses of technology companies. This year, it is the turn of the freight shipping industry’s lucrative year-end bonus news, and everyone knows how much shipping prices have risen this year. Since the second half of last year, the shipping industry has frequently hit the headlines because of its rising freight rates. Naturally, high ship freight rates have also affected the shipbuilding market for these ships to varying degrees. In the forecasts of various agencies, it is expected that in 2023, the freight rate of oil tankers will still increase due to the lack of new shipbuilding orders, which has resulted in an astonishing order volume for LNG carriers. The dominant South Korean shipyard has almost fully booked its quota, and the excess orders have spilled over to my country’s shipbuilding market, which will lead to a hot situation where the order volume has increased by more than 4 times year-on-year.