China forays into LNG shipping segment

China plans to gather more resources to compete with South Korea in the field of building liquefied natural gas or LNG carriers, industry insiders said.

The country has already overtaken many of its global rivals in two sectors: offshore engineering products and mega container vessel shipbuilding, they said.

The foray into LNG carriers came after South Korean shipbuilders, including Hyundai Heavy Industries Co and Samsung Heavy Industries Co, gained 52 orders, or 86 percent of the world's total orders for LNG carriers so far in 2018, according to data of British shipbuilding and marine analysis agency Clarkson Research Services.