MISC, Sonangol fuel LNG carrier ordering boom in China and South Korea

CSSC Hudong-Zhonghua Shipbuilding signed a contract on 30 January with MISC for the construction of three firm plus three optional 174,000-m³ LNG carriers. Malaysia’s national oil and gas company, Petronas, will act as time charterer for the vessels.

The shipbuilder expects the project to expand to 10 vessels.

Hudong-Zhonghua will apply its fifth-generation LNG carrier design to the series, incorporating energy-saving technologies aimed at emissions reduction and compliance with evolving environmental regulations.

According to information published on its website, MISC currently oversees a fleet of 29 LNG carriers, including chartered-in tonnage and vessels held through joint ventures. The company has traditionally placed LNG carrier orders at South Korean yards and presently holds an orderbook of six vessels, based on shipping platforms’ data.

Over the years, MISC has diversified its gas asset portfolio, expanding into floating storage units, LNG bunkering and, more recently, very large ethane carriers.

Sonangol adds one vessel in Korea

Meanwhile, HD Hyundai disclosed on 2 February that Angola’s state-run oil company Sonangol has placed an order for a single LNG carrier.

The vessel, scheduled for delivery through the first half of 2028, is valued at approximately US$251M.

The two companies have recently collaborated on a Suezmax tanker newbuilding programme covering two vessels.

Equasis data lists Sonangol with three LNG carriers as part of a diversified fleet that also includes crude oil and product tankers, LPG carriers and offshore vessels.

LNG newbuilding bonanza

The LNG carrier ordering surge that began in late 2025 has continued into early 2026, with Chinese shipyards steadily increasing their market share and challenging South Korea’s traditional dominance in the segment.

With the latest MISC contract, Chinese yards have secured orders for 13 LNG carriers so far this year, with options attached for a further five vessels. TMS Cardiff Gas contracted Hudong-Zhonghua for a firm four-ship order plus two optional units, while Eastern Pacific Shipping signed with Jiangnan Shipyard for two vessels. In addition, Shandong Ocean has turned to Jiangnan for four Shell-backed LNG carriers.

South Korean builders have also remained active. Alpha Gas placed an order for two vessels at Hanwha Ocean, while JP Morgan-backed interests added another pair at Samsung Heavy Industries. HD Hyundai has further secured contracts for four LNG carriers, reportedly ordered by NYK and Ocean Yield.