The South Korean government plans to order 140 LNG-powered vessels by 2025, which represents an investment of $1.5 billion and will financially prop up the country’s ailing shipbuilding industry, according to Hellenic Shipping News.
This assistance programme was announced on Thursday after a government meeting chaired by Prime Minister Lee Nak-yeon and targets the smaller shipyards.
The first order under the scheme will be for two LNG-fuelled tug boats.
It is also considering introducing a mandate for all state-owned...
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