LNG Tanker Shipbuilders Avoid Slump

Bloomberg Business Week
Thursday, June 07, 2012

LNG tankers have avoided a slump in new ship prices because of rising Asian gas demand and limited competition from Chinese shipbuilders

According to Bloomberg Business Week, prices for tankers able to hold 160,000 cubic meters of gas have held steady at about $202 million since 2010, based on Clarkson Plc data, bolstering earnings for South Korea-based Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co., the biggest makers of the vessels.

Capesize dry-bulk ship prices have plunged 18 percent in the period because of a glut partly caused by China financing orders to prop up local yards.

Chinese shipbuilders have been largely shut out of the LNG tanker market as the vessels are more complicated and more expensive to build than ships for carrying commodities or containers. That’s curtailing competition for the 140 new LNG tankers that ship-classification society ABS expects operators to order over the next five years.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Bollinger Wins Contract for Phase II FRC Builds

Louisiana shipbuilder Bollinger Shipyards announced it has secured a contract to build Phase II of the Sentinel Class Fast Response Cutters (FRC) for the United States Coast Guard (USCG).

Massive Layoff Ahead for Hyundai Heavy

Another massive reduction in the Korean shipbuilding workforce may come as most shipyards are still struggling with falling orders and mounting losses, reports Yonhap quoting industry sources.

Daewoo Shipyard Posts Q1 Operating Loss

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. posted a first-quarter loss after incurring more costs to finish some offshore projects.   First-quarter

Finance

Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake

Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui,

ITIC Reports on Ship Agents' Costly Transhipment Errors

International Transport Intermediaries Club (ITIC) says it continues to deal on a regular basis with claims resulting from errors by agents involving transhipment cargoes.

Slower Demand for Larger Vessels Drags Baltic Index Lower

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday due to diminishing demand for larger vessels.

LNG

Egypt to receive first LNG shipment from Rosneft in May

Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday.

China's CNOOC Expands Fujian LNG Terminal

China's biggest liquefied natural gas (LNG) importer CNOOC has started building two storage tanks at a receiving terminal in Fujian province for the super-chilled fuel,

Abu Dhabi Puts Fujairah LNG Terminal On Hold

Citing sources familiar with the matter, Bloomberg reports that Abu Dhabi is delaying the construction of the UAE’s first land-based LNG import terminal after

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0768 sec (13 req/sec)