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Business trends

Chinese shipbuilders chase South Korean rivals on LNG carriers

Investment spree spurred by war in Ukraine raises concerns of a supply glut

Demand for LNG carriers is rising as the war in Ukraine disrupts pipelines from Russia. (Photo courtesy of Samsung Heavy Industries)

DALIAN, China/SEOUL/TOKYO -- Chinese shipbuilders are mounting a challenge against leading South Korean players on liquefied natural gas carriers, though their race to expand production amid the Ukraine war is raising concerns of a supply glut down the line.

China State Shipbuilding Corp. (CSSC) will start building a roughly 20 billion yuan ($2.76 billion) shipyard in the city of Dalian in November through local unit Dalian Shipbuilding Industry (DSIC).

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