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 said the nation’s shipbuilders are maintaining their competitive edge over China and Japan in orders so far this year for high-value ships such as liquefied natural gas carriers and very large crude carriers as the merger of Hyundai Heavy Industries and Daewoo Shipbuilding and Marine Engineering remains on track.