Korean shipbuilders speed orders on LNG, tankers, lift margins in Shipbuilding News 18/05/2026 Korea’s major shipbuilders have filled about half of their key order targets in just over four months this year. As the Middle East war drags on and momentum grows to reorganize energy supply chains, orders have continued for tankers and liquefied natural gas (LNG) carriers. Although some initially worried that the newbuilding market would slow this year after several years of large orders, global newbuilding orders in the first quarter rose 67% on the year to 36.9 million GT (gross tonnage), extending the uptrend. ◇ Order pace faster than last year On the 11th, according to the shipbuilding industry, HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for HD Hyundai’s shipbuilding institutional sector, has won orders for 94 vessels worth $10.81 billion so far this year, achieving 46.4% of its annual target of $23.31 billion. That compares with 53 vessels worth $6.49 billion during the same period last year, when it had achieved 35.9% of its then target, indicating a faster order pace this year. Samsung Heavy Industries secured orders for 17 vessels worth $3.4 billion through April this year. Of that, merchant ship orders totaled $3 billion, filling 52.6% of the annual merchant ship target of $5.7 billion. In the same period last year, it won orders for 18 vessels worth $2.6 billion, achieving 27% of its annual target of $9.8 billion at the time. In an earnings conference call at the end of last month, Samsung Heavy Industries said, “We can more than meet this year’s merchant ship order target.” Hanwha Ocean does not disclose its annual order target, but it has secured work for 19 vessels worth $3.44 billion so far this year. That slightly exceeds the 14 vessels worth $3 billion in the same period last year. ◇ LNG carrier orders up fivefold from a year ago Tankers and LNG carriers are the ship types underpinning this year’s order flow. In a f