S. Korean Shipbuilders Striving to Break GTT Monopoly in LNG Containment Systems
It’s about time someone cracked this monopoly open. It’s not good for innovation if one company alone holds all the cards in hand on a given product. They stop innovation and start milking what they have. Without the threat of a competitor, what is always wins against what could be. And if anyone is poised to break this logjam, it’s the Koreans. We should wish them all the best.
It’s no secret that South Korean shipbuilders are flying high in the liquefied natural gas (LNG) carrier market, having bagged more than 80 percent of global orders in recent years.
