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The liquefied natural gas market may have a ship surplus in 2014 and 2015 as new vessels launch faster than production plants complete. There are 78 ships on order, amounting to 21 percent of the existing fleet, the Hamilton, Bermuda-based Hoegh LNG AS, owner of seven carriers, informs in its quarterly report as reported by Bloomberg Business News. While annual world output of the fuel, known as liquefaction, will be 330 million metric tons in 2017, from 242 million tons in 2011, some of the new ships will arrive before production expands, Hoegh's report stated. Source: Bloomberg

Iron-Ore carrier daily rates rebound as China spends US$158-billion. Iron-ore ships are poised to earn more than operating costs for the first time this year as rates rally on speculation Chinese steel mills will accelerate imports because of a 1 trillion-yuan ($158 billion) building program, reports Bloomberg Business News. Capesizes, each carrying 160,000 metric tons of ore, will earn $12,500 a day in the fourth quarter, according to the median of eight analyst estimates compiled by Bloomberg, compared with $4,459 on average since the end of June as assessed by the Baltic Exchange. Source: Bloomberg