Eric Watkins
Senior Correspondent
LONDON, Mar. 13 -- South Korean shipbuilders led the global market in construction of LNG carriers in 2005, according to the Korea Shipbuilders' Association.
It said South Korean companies won 79% of market share, with orders for 33 LNG carriers from a worldwide total of 42 carriers. That marks the third consecutive year that South Korean yards have led the global LNG market, after winning 73% market share in 2004 and 80% in 2003.
The association projected that South Korea's shipbuilding industry will continue to control more than 70% of the market this year.
It said the world's top three shipbuilders—Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co., and Samsung Heavy Industries Co. —would win orders for about 40 LNG carriers in 2006.
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