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Moreover, as we show here, a decline in this shipbuilding sector would occur even under policies and actions that limit to warming to 1.7˚C or 2.5˚C.
These ship types accounted for 27% and 10% of new ship builds globally over the period 2016 to 2020. Any decline in the market for these ships will have a significant effect on the sector as a whole.
The objective of this study is to examine the risks faced by the global, and particularly the Korean, shipbuilding industry, in the face of a decarbonising world.
Korea has one of the largest ship building industries in the world, capturing 37% of total global orders in 2022, and holding a dominant position in the industry building both LNG carriers and very large crude oil carriers (VLCC). Korean shipbuilders won 70% of the global orders for large LNG carriers in 2022. In terms of compensated gross tonnage (cgt), LNG carriers accounted for 65% of all the orders won by Korean shipbuilders in 2022.
Given the expected future decline in fossil fuel use, as the world moves to limit warming to 1.5˚C, it is inevitable that oil tanker and gas carrier shipbuilding will also experience a decline.
Moreover, as we show here, a decline in this shipbuilding sector would occur even under policies and actions that limit to warming to 1.7˚C or 2.5˚C.
These ship types accounted for 27% and 10% of new ship builds globally over the period 2016 to 2020. Any decline in the market for these ships will have a significant effect on the sector as a whole.
The objective of this study is to examine the risks faced by the global, and particularly the Korean, shipbuilding industry, in the face of a decarbonising world.
Korea has one of the largest ship building industries in the world, capturing 37% of total global orders in 2022, and holding a dominant position in the industry building both LNG carriers and very large crude oil carriers (VLCC). Korean shipbuilders won 70% of the global orders for large LNG carriers in 2022. In terms of compensated gross tonnage (cgt), LNG carriers accounted for 65% of all the orders won by Korean shipbuilders in 2022.
Given the expected future decline in fossil fuel use, as the world moves to limit warming to 1.5˚C, it is inevitable that oil tanker and gas carrier shipbuilding will also experience a decline. Moreover, as we show here, a decline in this shipbuilding sector would occur even under policies and actions that limit to warming to 1.7˚C or 2.5˚C.
These ship types accounted for 27% and 10% of new ship builds globally over the period 2016 to 2020. Any decline in the market for these ships will have a significant effect on the sector as a whole.
The objective of this study is to examine the risks faced by the global, and particularly the Korean, shipbuilding industry, in the face of a decarbonising world.
Korea has one of the largest ship building industries in the world, capturing 37% of total global orders in 2022, and holding a dominant position in the industry building both LNG carriers and very large crude oil carriers (VLCC). Korean shipbuilders won 70% of the global orders for large LNG carriers in 2022. In terms of compensated gross tonnage (cgt), LNG carriers accounted for 65% of all the orders won by Korean shipbuilders in 2022.
Given the expected future decline in fossil fuel use, as the world moves to limit warming to 1.5˚C, it is inevitable that oil tanker and gas carrier shipbuilding will also experience a decline. Moreover, as we show here, a decline in this shipbuilding sector would occur even under policies and actions that limit to warming to 1.7˚C or 2.5˚C.
These ship types accounted for 27% and 10% of new ship builds globally over the period 2016 to 2020. Any decline in the market for these ships will have a significant effect on the sector as a whole.
The objective of this study is to examine the risks faced by the global, and particularly the Korean, shipbuilding industry, in the face of a decarbonising world.
Korea has one of the largest ship building industries in the world, capturing 37% of total global orders in 2022, and holding a dominant position in the industry building both LNG carriers and very large crude oil carriers (VLCC). Korean shipbuilders won 70% of the global orders for large LNG carriers in 2022. In terms of compensated gross tonnage (cgt), LNG carriers accounted for 65% of all the orders won by Korean shipbuilders in 2022.
