Gas for Transport

South Korea supports shipbuilders with large order of LNG-fuelled vessels

The South Korean government plans to order 140 LNG-powered vessels by 2025, which will financially prop up the country’s ailing shipbuilding industry.
By Staff reporter 23 November 2018 0 33429

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...