LNG

The South Korea government said it would spare no efforts to help the nation’s shipyards, the largest builders of LNG carriers, to traverse the current double challenge of the coronavirus pandemic and the spending cuts proposed by the energy industry after the oil price slump.

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.