07 August 2017
Visiongain’ has launched a new energy report The Liquefied Natural Gas (LNG) Carrier Market 2017-2027: Forecasts and Analysis by Type including GTT No. 96, Mark III, Moss. SPB & Small Scale 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).
Liquefied Natural Gas (LNG) is one of the most commercially-viable energy solutions adopted by developing economies such as Asia Pacific to fulfil their energy requirements. Looking at the growth prospects, it is evident that access to economic and abundant energy sources would be a crucial factor supporting the momentum of this growth.
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 Since most LNG is sold on long-term contracts that are linked to the price of oil, LNG prices have also fallen and will continue to fall into 2017.
The visiongain report analyst commented “An oversupplied market will force down LNG prices. It is hoped that low prices will drive further demand growth, though, with a large number of LNG carriers expected to come online over the next 5 years, charter rates and utilisation rates could fall if this fails to happen.”
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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