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8 min ago 2 min read
SK Shipping is to rebrand as K-LNG and become Asia’s largest LNG carrier after acquiring 16 ships from sister company H-Line Shipping.
It will exchange 12 oil tankers and $300m cash under the deal, according to Korea media, following the reshuffle from private equity owner Hahn & Co. The rebranded firm will now operate 32 vessels.
The changes are designed to give the two carriers clearer areas of specialisation.
Hahn & Co. expects LNG shipping demand to grow as electricity consumption increases.
The move should also raise the Korean carriers’ market profile. Although Korea is one of the three largest LNG importers, domestic shipping companies transported only 34.5% of LNG imports in 2024.
Other major LNG operators in the region include K Line, NYK Line, Mitsui OSK Lines and MISC Berhad.
Asia Pacific LNG demand is forecast , from 268 million tonnes (Mt) in 2025 to 257 Mt in 2026, according to a recent report from analyst group Wood Mackenzie.
It marks the second consecutive year of decline in the region, following a drop from 278 Mt in 2024, as geopolitical instability in the Middle East reshapes the global LNG supply chain.
But regional demand is expected to recover to 279 Mt in 2027 and climb to 297 Mt by 2028. Growth hinges on both geopolitical risk subsiding and the return of structural demand growth across Southeast and South Asia.
