02 August 2017
Visiongain’ has launched a new energy report Liquefied Natural Gas (LNG) Carrier Market 2018-2028: Forecasts (CAPEX & Capacity) and Analysis by Type including GTT No. 96, Mark III, Moss. SPB & Small Scale, By Retrofit/Conversion & New Build AND by Region PLUS Profiles of Leading Companies in the LNG Carrier Market
Natural gas can be transported from gas production centers to consumption centers in the form of liquefied natural gas (LNG) through ships and pipelines. Natural gas can be transported in ships and trucks to locations that are not connected to pipelines. Transportation of LNG takes place between exporting terminal (liquefaction plant) to importing terminal (regasification plant).
In recent years, a large number of LNG carriers have been constructed. However, as prices fell, and the global market started to experience an oversupply of LNG due to a slowdown in LNG demand growth in the key countries of Japan, China and South Korea, suddenly there was no need for that many carriers to transport the commodity. As a result of the declining utilisation rates, LNG carrier charter rates have also fallen in 2014 and 2015.
These market conditions have led to significant delays and cancellations on the liquefaction side of LNG infrastructure expansion, which has sustained the mismatch between LNG carrying capacity and liquefaction capacity
The visiongain report analyst commented, “Australia and North America over the next five years will drive spending on LNG carriers to transports these supplies, though an oversupplied market by 2020 will lead to less spending on LNG carriers in the second half of the forecast period.”
Leading companies featured in the report who are developing Liquefied Natural Gas (LNG) Carriers include Samsung Heavy Industries (SHI), Kawasaki Heavy Industries, NYK Line., Misc Berhad, STX Offshore and Shipbuilding, Hudong Zhonghua, Daewoo Shipbuilding and Marine Engineering (DSME), Mitsubishi Heavy Industries, Ltd., Maran Gas Maritime Inc. (MGM) & Hyundai Heavy Industries Co., Ltd.
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