LNG Tanker Orders Rise Despite Middle East War Risks
Global orders for liquefied natural gas carriers are increasing as new production in the Americas and Africa drives demand for fuel-efficient vessels. Despite shipping disruptions from the U.S.-Iran war, shipbuilders report 35 new contracts in the first quarter.
Global orders for liquefied natural gas (LNG) carriers are projected to rebound this year following a slowdown in 2025. This resurgence is being fueled by rising production volumes and a shift toward more fuel-efficient vessels, even as geopolitical tensions in the Middle East create a complex landscape for the shipping industry.
According to data from industry consultancies, shipbuilders in South Korea and China have seen a significant uptick in activity. During the first quarter of 2026, 35 new LNG carrier builds were contracted, nearly matching the 37 orders placed throughout the entirety of 2025. This recovery follows a historic peak in 2022, when 171 vessels were ordered. Each of these high-tech tankers costs between $250 million and $260 million and requires more than three years to complete.
