Nigeria LNG Ltd (NLNG) is set to expand and modernize its fleet, as it negotiates the acquisition of mid-scale liquefied natural gas (LNG) carriers from China’s Hudong Zhonghua Shipbuilding. The company is reportedly discussing contracts for three 74,000-cubic-meter vessels, with options for three additional units, under its ongoing fleet modernization program.

The new carriers, expected to be delivered from 2029, will operate under NLNG’s shipping subsidiary, Bonny Gas Transport. This move comes at a time when global LNG carrier contracting has slowed significantly, despite a large forward order book.

According to Clarksons data, the global fleet of large LNG carriers (40,000 cubic meters and above) currently stands at 779 vessels, with 278 units on order, roughly 36% of the existing fleet by number and nearly 40% by capacity. While the order book remains high, new orders in 2025 have dropped sharply.

Estimates show that LNG carrier orders in the first ten months of 2025 totaled 3.1 million cubic meters, a decline of 76% compared to the same period last year. Overall, shipbuilding activity for all vessel types has slowed from 2024’s pace, with 1,392 new ships ordered in January–October 2025, down 45% in deadweight tonnage (DWT) compared to last year.

Chinese shipyards continue to dominate the global market, accounting for 59% of new orders in compensated gross tonnage (cgt) terms and holding 61% of the global order book. Hudong Zhonghua, in particular, has a substantial backlog of LNG carrier orders stretching into the late 2020s.

NLNG’s latest negotiations reflect both a strategic effort to upgrade its shipping capacity and the continued reliance on Chinese shipbuilders for LNG transport solutions. Additional orders from NLNG in the coming years could further strengthen China’s leading position in global LNG vessel construction.