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Korea announces new measures to boost domestic shipbuilding

South Korea announced Thursday another package of financial measures to boost small and mid-sized shipbuilders, who are encountering dwindling new orders over the last years. The measures call for both governmental and private companies to place orders for a total of 140 LNG-fueled vessels by 2025, including two next year.

South Korea to order LNG fueled ships by August

South Korea is about to place the first order for LNG fueled vessels by August, in an attempt to develop green shipping and support associated industries, the oceans ministry informed earlier this week. The Ministry of Oceans and Fisheries will order two 200,000-ton class bulk carriers, to sail between South Korea and Australia.

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