50% Drop in New LPG Tanker Orders

Wednesday, February 10, 2010

A report published by Fairplay shows new orders for liquid petroleum gas (LPG) fleet tankers currently stand at 191 to the end of 2013, which is 50 percent less than the previous five years or 40 percent if measured in cubic metres (m3)
 
“The LPG market will by this slower fleet growth be better positioned than most other shipping markets when the GDP growth resumes to previous levels, particularly in Asia,” explained Niklas Bengtsson, senior consultant for Fairplay Market Forecast.  “China and South Korean dominate the order book for tankers over the next five years, holding 30 percent of the orders between them.  Europe accounts for only 15 percent.”
 
This is expected as China will continue to increase its share of world exports with the Chinese state buying raw materials for stockpiling.  The Chinese State Reserve Bureau, which manages the government stockpile, has bought copper, aluminium, zinc, indium and titanium in recent months.     
 
The monthly Shipbuilding Market Forecast for February 2010 examines the oil, chemical, LPG and LNG tanker markets.  It provides a review of the global business environment demand for seagoing transport, market conditions and capacity utilization for these classes of vessels, and gives a detailed five-year shipbuilding forecast, including new orders, deliveries and demolitions.
 
The report by Fairplay forecasts that the LPG tanker fleet will increase by a meager seven percent over the next four years.  In 2008, the fleet reached historic highs, but the Shipping Market Forecast by Fairplay forecasts that deliveries for 2009 through 2013 will stand at 5.2M m3 which is a 16 percent drop from 2008 deliveries. 
 
The forecast for removals from the worldwide tanker fleet in the period 2009 through 2013 is 152 ships, an increase of 70 percent compared to the previous five-year period, but as these are mostly relatively small ships it is only 40 percent of the capacity if measured in m3. 
 
At the beginning of January 2010 the worldwide LPG fleet stood at 340 carriers which is a capacity of 47.7M m3. At this time 52 vessels were on order which is 40 less than the same time last year. 
 
(www.lrfairplay.com)

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

US DOE Approves Oregon LNG Export Project

The U.S. Energy Department said on Thursday it has approved Oregon LNG to export liquefied natural gas, as the Obama administration works through applications to

Kurdistan Says Crude Cargo Near Texas Legally Sold

A $100 million cargo of crude oil in a tanker near Texas was legally shipped and sold by Kurdistan, lawyers for the autonomous region in Iraq told a U.S. court in a letter seen on Thursday,

Kirby Reports Record Q2 2014

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.1078 sec (9 req/sec)