As the world continues to depend on fossil fuels, LNG, or liquefied natural gas, remains one of its most precious and sought after commodities. There are many steps that must be taken in order to obtain LNG, and a major component to the process is LNG tankers. According to analysts at Technavio, the global LNG tanker market will record a CAGR of over 6% by 2020. In this blog, we identify the top LNG tanker vendors.
Key vendors in the LNG tanker market
Samsung Heavy Industries
Samsung Heavy Industries has successfully completed diverse projects with the aim of securing global leadership in various sectors including shipbuilding, offshore, machinery & electric systems. Most notably, it has achieved unbeatable leadership in the high-tech high-value shipbuilding sector by maintaining the world’s No. 1 share in the drill ship, LNG carrier and FPSO markets. The company has developed and built the first Arctic Shuttle-Tanker and LNG-FPSOs in the world, and has pioneered new market developments by developing innovative products such as LNG-FSRU, and various ships for polar applications, Arctic Ice-Breaker Container Ships.
Mitsubishi Heavy Industries
Mitsubishi Heavy Industries, Ltd. is a Japanese multinational engineering, electrical equipment, and electronics company headquartered in Tokyo, Japan. MHI’s products include aerospace components, air conditioners, aircraft, automotive components, forklift trucks, hydraulic equipment, machine tools, missiles, power generation equipment, ships, and space launch vehicles. Through its defense-related activities, it is the world’s 23rd-largest defense contractor measured by 2011 defense revenues, and the largest based in Japan. MHI is one of the core companies of the Mitsubishi Group.
Hyundai Heavy Industries
Hyundai Heavy Industries Co., Ltd. (HHI) is the world’s largest shipbuilding company, headquartered in Ulsan, South Korea. HHI operates the world’s largest offshore construction yards, covering more than 215 acres and featuring the world’s largest gantry crane, capable of lifting 1600 tons. It has seven business divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro & Electric Systems, Construction Equipment, and Green Energy.
DSME
Founded in 1973, DSME has since grown into the world’s premium shipbuilding and offshore contractor who is specialized in building various vessels, offshore platforms, drilling rigs, FPSO/FPUs, submarines, and destroyers. The shipyard, which spans an area of 4.3 million meters squared, encompasses the world’s largest dock with a million-ton capacity and is optimized for building high-tech motor vessels using cutting-edge equipment, including a 900-ton goliath crane. DSME manufactures high-quality products based on its vast IT expertise, well-managed shipbuilding technologies, superb fixed-platform construction capacities, large-scale project management know-how, and submarine/destroyer construction technologies.
Mitsui OSK Lines (MOL)
MOL (Mitsui O.S.K. Lines, Ltd) is a Japanese transport company headquartered in Toranomon, Minato, Tokyo, Japan. The company’s main area of operations is international shipping. Its alligator logo can be seen on containers in ports around the world. Founded as a key part of the Mitsui zaibatsu (family-owned conglomerate) during the early industrialization of Japan, the company is now independent of the zaibatsu, but remains part of the Mitsui keiretsu (group of aligned companies).
NYK Lines
Nippon Yusen Kabushiki Kaisha is one of the oldest and largest shipping companies in the world, founded in 1885. It is a member of the Mitsubishi UFJ Financial Group (MUFJ) keiretsu. The company has its headquarters in Chiyoda, Tokyo, Japan. Its shipping fleet includes around 155 containerships, 286 bulk carriers, 55 woodchip carriers, 113 car carriers, 21 reefer carriers, 78 tankers, 30 LNG carriers, and three cruise ships.
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