Regional LNG: S. Korean firms win record orders for LNG tankers

South Korea, the world's largest shipbuilding nation, has secured a record amount of orders this year for liquefied natural gas (LNG) tankers, which are pricier than other kinds of ships, Yonhap News Agency reported Friday.

In the January-September period, South Korean shipbuilders secured orders to build 34 LNG carriers, compared with 12 units for all of last year, the Korea Shipbuilders Association said.

Local shipbuilders, struggling from the rising cost of materials, have been focusing on winning orders for pricier ships like LNG tankers to keep up their profitability.

As a result of the efforts, the total amount of ship orders rose 15 percent to US$21.5 billion in the first nine months of the year.

The proportion of pricier ships like LNG carriers and large container ships rose 4.7 percentage points to 23 per cent during the period. (*)