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Energy

Russia tensions spur LNG tanker orders for Korean shipbuilders

Demand soars to rarely seen high as Europe seeks alternate sources

Daewoo Shipbuilding & Marine Engineering has snagged the equivalent of a third of its orders from last year in just over a month in 2022. (Photo courtesy of the company)

SEOUL -- South Korea's top shipbuilders have received an influx of orders for liquefied natural gas tankers recently as European countries seek alternative LNG sources amid escalating tensions with Russia.

Daewoo Shipbuilding & Marine Engineering said Thursday it has received orders from Europe totaling 1.84 trillion won ($1.5 billion). The orders include two LNG vessels for a Greek marine shipper, along with six container ships for another client.

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