China now controls nearly two-thirds of global ship orders, rapidly closing the gap with traditional leaders in advanced shipbuilding segments. While South Korea remains dominant in high-end LNG carriers, with HD Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries holding about 70 percent of that market, state-backed China State Shipbuilding Corporation (CSSC) is making significant inroads. The competition is evolving beyond technology to include supply chains, geopolitics, and US partnerships, putting Korea's edge under increasing pressure.