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

Contracts

NASSCO Opens New Facility for Naval Repair

General Dynamics NASSCO opened a new location yesterday in Bremerton, Wash. to support the company’s recently-awarded contract to repair and maintain U.S. Navy

Kraft Power Named Distributor for Scania USA

Continuing its North American service network expansion, Scania has named Kraft Power as its newest marine distributor.   Kraft Power is now a Scania marine distributor for Florida,

Scorpio Bulkers Modifies and Sells Shipbuilding Contracts

Scorpio Bulkers Inc. announces agreements to modify and sell existing shipbuilding contracts for six capesize vessels    Scorpio Bulkers Inc. has reached agreements

LNG

Becker Marine Delivers Rudder for Largest Containership

Becker Marine Systems delivers rudder for the largest container ship in the world   At 19,000 TEU, the largest container ship in the world is now picking up speed

DSME Returns for More Dual-Fuel Engines

MAN Diesel & Turbo received an order for four MAN B&W 5G70ME-GI engines in connection with Daewoo Shipbuilding & Marine Engineering Co.,Ltd. (DSME) agreeing a deal

USCG Addresses Future of Marine Fuels

The future of marine fuels from the Liquefied Gas Carrier National Center of Expertise   The Pacific Merchant Shipping Association hosted The Future of Marine

 
 
Maritime Security Naval Architecture Navigation Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.1336 sec (7 req/sec)