Lng Fleet News

"By the end of the first quarter of 2026, the global shipping order book hit a 17-year high, reaching 191m Compensated Gross Tonnes (CGT). This is equivalent to 17% of the global fleet, the highest ratio since 2011. The order book has been boosted by higher newbuilding contracting throughout the 2020s and most recently by the highest quarterly crude tanker contracting in history,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.During the first quarter of 2026, newbuilding contracting has risen 40% y/y to 17.6m Compensated Gross Tonnes (CGT)…

Qatar Gas Transport Company Q.P.S.C. Nakilat announced its financial results for the year ending December 31, 2025. The Group delivered a net profit of USD$460 million (QAR 1.69 billion), representing an increase of 3.1% compared to USD$450 million (QAR 1.64 billion) in 2024.In recognition of the Group’s performance and its ongoing focus on delivering shareholder value, the Board of Directors has recommended:A cash dividend of USD$1.98 (7.2 Qatari Dirhams) per share for the second half of 2025.

Malaysia’s MISC Group and its consortium partners NYK, K-Line, and China LNG Shipping (Holdings) have taken delivery of two new-generation liquefied natural gas (LNG) carriers, the Mihzem and Idd Al Shargi, marking another milestone in QatarEnergy’s LNG fleet expansion program.Built by Hudong-Zhonghua Shipbuilding, the two carriers are the fifth and sixth vessels in the consortium’s 12-vessel series and the first to be managed by MISC’s Marine Services arm. The delivery underscores…

Japan's second-largest shipping company, Mitsui O.S.K. Lines (MOL), is operating as usual in the Gulf while closely monitoring the situation in the region, CEO Takeshi Hashimoto said on Tuesday."We are operating so many containers, car carriers and chemical tankers so that it is very, very difficult for us to reduce or stop with the service," Hashimoto told Reuters on the sidelines of the Energy Asia conference.Shippers re-routed via the Cape of Good Hope after Yemeni Houthis attacked ships in the Red Sea…

Inert gas specialists Maritime Protection, a brand of global survival technology solutions provider Survitec, has been secured a contract valued o supply dry inert gas systems for 24 LNG carriers being constructed at a major shipyard in China as part of Qatar’s second LNG fleet expansion program.The contract, valued $26 million (€22.7 million), represents the most significant single order in Maritime Protection’s history and includes the delivery of high-capacity dry inert gas generators…

Mitsui O.S.K. Lines (MOL), Japan's second-largest shipping company, aims to capitalize on opportunities that emerge from a shift in trade routes driven by new U.S. tariffs, CEO Takeshi Hashimoto said.The highest U.S. tariffs in more than a hundred years came into force on Wednesday, roiling global markets."Trade routes will inevitably be reshuffled," Hashimoto told Reuters in an interview on Tuesday."We'll likely see increased trade from low-tariff countries and declines from high-tariff ones…

ZIM Integrated Shipping Services Ltd. announced new agreements for the long-term charter of ten 11,500 TEU liquefied natural gas (LNG) dual-fuel container vessels, with total charter hire consideration of approximately $2.3 billion to serve across ZIM's various global trades.Seven of the vessels will be chartered to ZIM by Containers Ventures Holdings Inc., an affiliate of the TMS Group, and three will be chartered to ZIM by a shipping company that is affiliated with Kenon Holdings, Ltd., which was ZIM's largest shareholder until the end of 2024.

Qatar Gas Transport Company (Nakilat) has held a steel cutting ceremony for eight of its new liquefied natural gas (LNG) carriers at Hanwha Ocean shipyard in the Republic of Korea.These vessels are part of Qatar’s historic LNG fleet expansion project, aimed at meeting the maritime transport needs of the LNG sector.In February 2024, Nakilat signed agreements with QatarEnergy to charter and operate 25 conventional-size LNG carriers, making Nakilat both the owner and operator of the vessels…

In the ever-evolving world of maritime trade, ship ownership is a key indicator of economic influence and global commerce. As we enter 2025, Veson Nautical offers its Top 10 Ship Owning Nations, offering a detailed analysis of fleet values and industry shifts. This year, China has surged to the top, overtaking Japan in total fleet value, while geopolitical events and shifting market dynamics continue to shape the rankings.Let’s take a closer look at the global giants of ship ownership and the forces driving their dominance.1.

A sanctioned LNG tanker named "Mulan", which approached Novatek's SAAM FSU floating storage facility in Murmansk on December 21, is currently sailing around Northern Europe and heading towards Port Said in Egypt, according to LSEG data. The vessel is expected to arrive at its destination on January 6, 2025.Another LNG tanker, "Pioneer", has entered the transshipment zone at the Koryak FSU floating storage facility in Kamchatka, according to LSEG data.The Pioneer and Mulan are…

QatarEnergy has selected the joint venture of Japan’s Mitsui O.S.K Lines (MOL) and China’s COSCO Shipping LNG Investment (Shanghai) (CSLNG) to own and operate six QC-Max size LNG vessels.The six vessels will be built in China by Hudong-Zhonghua Shipbuilding Group, a subsidiary of China State Shipbuilding Corporation (CSSC).These vessels are the last batch of the 128 LNG vessels in QatarEnergy’s historic ship building program, made up of 104 conventional and 24 QC-Max size ultra…

GAIL (India) has signed a long-term time charter contract with Kawasaki Kisen Kaisha (“K” Line) for a newbuild liquefied natural gas (LNG) ship.The LNG ship will be a modern two-stroke vessel having a tank capacity of 1,74,000 cubic metres and will be built by Samsung Heavy Industries.The contract was signed through GAIL’s ship-owning company established in Singapore.This is the first long-term time charter contract between GAIL and "K" LINE involving a newly built vessel which is expected to be engaged in transportation of LNG for GAIL in 2027.GAIL currently has four LNG vessels…

Seatrium has signed a Letter of Intent (LOI) with Japan-based Penta-Ocean Construction (POC) to carry out early engineering work for a 5,000t fully-revolving heavy lift vessel project for the Japan wind market.Subject to the final investment decision by POC, the full EPC contract award is expected in 1Q 2025.POC owns a range of self-propelling trailing suction hopper and cutter suction dredgers for marine construction works as well as two turbine installation vessels equipped with a 800t and a 1,600t lifting capacity crane respectively.

QatarEnergy has inaugurated four new conventional-size LNG vessels built in Samsung Heavy Industries and Hanwha Ocean shipyards in the Republic of Korea as part of its historic fleet expansion program.The four new vessels - Id’asah, Nuaijah, Umm Swayyah, and Lebrethah - are part of 128 total vessels ordered from Korean and Chinese shipyards as part of the largest shipbuilding program in the history of the LNG shipping industry.The naming of the vessels took place in two separate ceremonies in the city of Geoje…

The United States has imposed sanctions on hundreds of entities and individuals for supporting Russia's war effort in Ukraine, including companies supporting the development of Russia's Arctic LNG 2 project and its shipment of liquefied natural gas (LNG), as well as other future energy projects.The Arctic LNG 2 project by Russia's Novatek is subject to Western sanctions over Russia's conflict with Ukraine. The project had been due to become Russia's largest LNG plant with eventual…

Qatar Gas Transport Company Q.P.S.C. (Nakilat) has achieve a net profit of QAR 1.28 billion ($352 million) in the third quarter of 2024, ended September 30.This represents an increase of 7.2% compared to the same period in 2023.Nakilat says it continues to strengthen its position as one of the world’s largest LNG fleet owners through strategic partnerships, fleet modernization and operational excellence.The company continues to progress with its construction of advanced LNG and LPG/Ammonia carriers, scheduled for delivery in the coming years.

Technology group Wärtsilä, in partnership with Chevron Shipping Company, plans to convert one engine on six of Chevron Transport Corporation LNG Carriers from dual-fuel (DF) to spark gas (SG) operation to reduce methane emissions.The conversions are intended to reduce greenhouse gas emissions by lowering methane slip in support of Chevron Shipping’s broader efforts to reduce the carbon intensity of its operations.The ‘marine industry first’ was made possible after two years of…

Mitsui O.S.K. Lines (MOL) and Chevron Shipping Company, a subsidiary of oil and gas giant Chevron, have signed an agreement to install Wind Challenger to a newbuild LNG carrier, which will become world’s first LNG carrier equipped with wind-assisted propulsions system.The is under long term charter from MOL Encean to Chevron Asia Pacific Shipping, and is currently under construction at the Geoje Shipyard of Hanwha Ocean, scheduled for delivery in 2026.In August 2024, MOL obtained…

QatarEnergy has inaugurated the Rex Tillerson vessel, marking the delivery of the first LNG vessel under its historic shipbuilding program.Rex Tillerson vessel was named after the former Chairman and CEO of ExxonMobil as a tribute to his life-long accomplishments in the energy sector.The traditional naming ceremony was held at the Hudong-Zhonghua Shipyard in the Chinese city of Shanghai.“As the first ship in our new LNG fleet, the Rex Tillerson will undoubtedly play a significant…

QatarEnergy has signed a long-term agreement with Qatar Gas Transport Company Limited (Nakilat), under which Nakilat will own and operate nine QC-Max class LNG vessels, the largest LNG vessels ever built.The nine QC-Max vessels, with a capacity of 271,000 cubic meters each, constitute half of the 18 advanced QC-Max class LNG vessels that will be constructed at China’s Hudong-Zhonghua Shipyard.To date, QatarEnergy’s fleet expansion program encompassed the execution of shipbuilding contracts and time charter agreements for 104 conventional LNG vessels and 18 QC-Max class LNG vessels…

According to the latest figures from DNV’s AFI platform, five new orders for alternative fueled vessels were confirmed in March 2024: two methanol, two ammonia and one LNG.Although this was a quiet month for the ordering of alternative fueled vessels, the overall trend remains strong, says DNV. For the first three months of 2024, 68 orders for alternative fueled vessels were made, compared to 44 in the first three months of 2023, representing year-on-year growth of over 50%.Jason Stefanatos…

QatarEnergy has signed an agreement with China State Shipbuilding Corporation (CSSC) for the construction of 18 ultra-modern QC-Max size LNG vessels, marking a significant addition to its LNG fleet expansion program.The new vessels, with a capacity of 271,000 cubic meters each, will be constructed at China’s Hudong-Zhonghua Shipyard, a CSSC wholly-owned subsidiary, and will feature state of the art technological innovation and environmental performance.Eight of the 18 QC-Max size LNG vessels will be delivered in 2028 and 2029…

QatarEnergy signed time-charter party (TCP) agreements with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25, 174,000 cubic meter LNG vessels as part of the second ship-owner tender under QatarEnergy’s historic LNG Fleet Expansion Program.The agreements were signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy and Mr. Abdullah Al Sulaiti, the CEO of Nakilat, in a special ceremony held at QatarEnergy’s headquarters in Doha…