Analysts: Demand for LNG Tankers Decreasing

Wednesday, August 02, 2006
Excess capacity in the global fleet of liquefied natural gas carriers will be at its highest this decade in 2008, as a growing worldwide fleet results in lower utilization rates, according to the Royal Gazette. Demand for LNG tankers has deteriorated markedly as a result of a large increase in fleet supply partly caused by speculative orders for new ships, industry analysts pointed out. Utilization of the LNG fleet will fall to 77.4 percent in 2008, almost 13 percentage points lower than at the beginning of the decade, data showed. Falling utilization hurts revenue for companies such as Oslo-based Bergesen Worldwide Gas ASA and Golar LNG Ltd. of Hamilton, Bermuda. Rising earnings for operating LNG tankers have encouraged some shipowners to order vessels without first having them assigned to particular projects. Improved productivity in the existing fleet has also added to the surplus capacity, analysts reported. The growth in the surplus is already slowing because supply disruptions from Indonesia are forcing Japan, the world's largest LNG importer, to source shipments from further away, tying up ships for longer periods. The global fleet of liquefied natural gas carriers will expand 16 percent by the first quarter of 2007, according to Oslo-based shipbrokers R.S. Platou a.s. (Source: Royal Gazette)
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Ecuador Order Elastec/American Marine Oil Spill Equipment

Elastec/American Marine say that quality and dependability made all the difference when the state oil company of Ecuador decided recently to purchase its oil spill response equipment.

Statoil, Repsol, ExxonMobil Win Colombian Offshore License

Statoil announced today that it has been awarded interest in the COL4 license offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round, along with Respol and ExxonMobil.

Bahrain US$35-M Land Reclamation Contract for GLDD

Provider of dredging services in the United States and a major provider of environmental & remediation services, Great Lakes Dredge & Dock Corporation (GLDD) says

LNG

Editorial: Gas ... It's Both the Question & the Answer

When the time comes to pull an edition together, sometimes the content simply takes on a life of its own, as is the case with the July 2014 edition and the proliferation of ‘gas’ throughout.

EXXONMOBIL Files Export Application for Alaska LNG Project

In another important step forward for the Alaska LNG project, an application to export liquefied natural gas (LNG) was submitted to the U.S. Department of Energy by EXXONMobil.

Bureau Veritas Kick-starts LNG Bunkering

International classification society Bureau Veritas has published a comprehensive set of guidelines on LNG Bunkering, with the aim of speeding adoption of LNG as

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1148 sec (9 req/sec)