<\/p>\n
Expectations are growing in the global shipbuilding industry for a \u201csecond Qatar boom.\u201d Qatar, which has shaken up the global LNG (liquefied natural gas) supply chain by leveraging the world\u2019s largest single gas field, the North Field, has announced plans to significantly expand its LNG carrier fleet in line with increased production. Industry insiders speculate that up to around 70 additional LNG carriers could be ordered. Depending on the outcome of the bidding war, the competitive landscape between South Korean and Chinese shipbuilding industries is expected to enter a new phase.<\/p>\n
Saad Sherida Al-Kaabi, CEO of QatarEnergy, Qatar\u2019s state-owned energy company, stated at the world\u2019s largest LNG industry exhibition, \u201cLNG 2026,\u201d held in Doha, Qatar, on the 2nd: \u201cTo ensure stable transportation of increased LNG volumes, we plan to significantly expand our LNG carrier fleet.\u201d This reflects Qatar\u2019s intention to enhance maritime transport capabilities in line with its rapid growth in LNG production and exports following the North Field expansion. Qatar aims to increase its annual LNG production capacity from 77 million tons to 142 million tons by 2030.<\/p>\n
The global shipbuilding industry is closely watching these remarks because Qatar is a major player that has influenced the LNG carrier market\u2019s supply and competitive order for years. Previously, from 2020 to 2024, Qatar ordered 128 LNG carriers in two phases, with South Korea securing 98 and China 30. The tens-of-trillions-of-Korean-won-scale orders transformed the flow of both countries\u2019 shipbuilding industries, which had been mired in a long-term slump.<\/p>\n
Korea\u2013China Shipbuilding Backed by Qatar<\/strong><\/p>\n This second boom is evaluated as different in nature. While the first boom focused on overcoming the slump through securing orders, the second is expected to be a competition over \u201cwho will set the next standard in the LNG carrier market.\u201d Factors such as vessel types, construction efficiency, and long-term cooperation structures are emerging as critical variables for success, not just the scale of orders.<\/p>\n A key variable is the changing status of the Chinese shipbuilding industry. During the previous boom, China secured LNG carrier orders as a form of \u201cquid pro quo\u201d by investing in local LNG projects and leveraging long-term LNG purchase agreements. Notably, it secured all orders for the Q-Max class, the largest LNG carriers, boosting its technological credibility. Hudong\u2013Zhonghua Shipbuilding, a subsidiary of the China State Shipbuilding Corporation (CSSC), which led this effort, expanded its annual LNG carrier construction capacity from three to 11 ships last year by operating a new dedicated yard north of Shanghai. It is also reported to have reduced construction periods from 60 months to 24\u201330 months, comparable to South Korean shipyards. This has narrowed the gap in South Korea\u2019s strength in \u201con-time delivery.\u201d<\/p>\n China\u2019s Advance Forces Korea to Rethink Strategy<\/strong><\/p>\n South Korea still maintains an edge in core LNG carrier technology, operational stability, and shipowner trust. However, voices are growing that strategic adjustments are inevitable as Chinese competition intensifies. For instance, HD Hyundai is reportedly considering the possibility of building Q-Max class LNG carriers, which it had not previously constructed. Samsung Heavy Industries signed a memorandum of understanding (MOU) with Qatar\u2019s state-owned shipyard (QSTS) in early this month to cooperate in LNG and offshore plant sectors.<\/p>\n The Qatar orders secured by South Korea and China are expected to be completed around 2028. Competition between Korean and Chinese shipbuilders to prepare for the second Qatar LNG carrier boom is intensifying. CSSC opened its first overseas representative office in Doha, Qatar, this month, while Hudong Zhonghua unveiled new technologies, including a \u201cfuture-oriented low-carbon LNG carrier,\u201d at the LNG 2026 exhibition. HD Hyundai has also partnered with global institutions like the French and Norwegian classification societies to co-develop new LNG carriers of various sizes. <\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" … changing status of the Chinese shipbuilding<\/span> industry. During the previous boom … its technological credibility. Hudong\u00e2\u0080\u0093Zhonghua Shipbuilding<\/span>, a subsidiary of the China … . Competition between Korean and Chinese shipbuilders<\/span> to prepare for the second …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-84186","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/84186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=84186"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/84186\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=84186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=84186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=84186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Source: The Chosun Daily<\/p>\n