Figures for 2024 show China’s share of the market has surged past 60% – far ahead of its nearest competitors, South Korea and Japan.¹ In 2024 alone, the order book value for Chinese vessels surpassed $123bn.²
Among myriad vessel types being commissioned in Chinese shipyards are Liquid Natural Gas (LNG) carriers, where ABB technology plays a key role in maximising their efficiency.
A recent order to supply permanent magnet shaft generator technology to 18 Chinese-built LNG carriers, due for delivery between 2028 and 2030, was part of the largest ever delivery requirement for ABB’s shaft generator solution.