Five Korean shipping lines head to Doha to pitch for LNG business

Five Korean shipping lines head to Doha to pitch for LNG business

It’s not just South Korea’s shipbuilders who are bidding to profit from Qatar’s latest mega expansion of its LNG supply chains; many of the east Asian nation’s top shipping lines are vying for business too.

Yonhap, South Korea’s top newswire, is reporting that an alliance of Korea Line, Pan Ocean, SK Shipping, Hyundai LNG Shipping and H-Line Shipping, is in Doha today, pitching for business.

Qatar Petroleum is expected to order another 40 to 60 LNG carriers shortly, with Korean shipbuilders in pole to gain the lion’s share of the order. While these ships are likely to be operated by subsidiary Nakilat, a further 50-60 LNG carriers might needed to meet Qatar Petroleum’s export goals set for 2024.

The hard hit South Korean shipowning sector – among the most decimated this decade, along with Germany – has come together in other alliances recently. Five of its container lines have been operating as an alliance on intra-Asia trades, for instance.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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