LNG

South Korea, the world’s largest builder of liquefied natural gas carriers and other ships, has brought in a package of measures to help ease the financial pressures facing medium-sized shipyards, including confirmation of government backing for the ordering of 140 LNG-powered vessels.

South Korea will place orders for about 200 vessels in the next three years to help its shipping and shipbuilding industries suffering from a slump in global demand and losses that forced restructuring at the largest companies.