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LNG Carrier Newbuilding Market Likely to Thaw from Late 2017

LNG Carrier

The world’s LNG carrier newbuilding market which has remained frozen last year is forecast to show some recovery from late 2017. The number of LNG carrier orders placed last year stood merely at six. However, as the approval is imminent for America’s massive LNG export project, at least 10 LNG carriers are expected to be ordered from late this year.


According to industry sources on January 8, the U.S. Federal Energy Regulatory Commission recently approved the development of the “Golden Pass LNG export project” which is worth more than $10 billion. Although this project still needs to be approved by the nation’s Department of Energy, industry experts believe that the final approval would be made without any problem.


The Golden Pass LNG project, which will be run by ExxonMobil and Qatar Petroleum, would produce 15.6 million tons of LNG per year. To export this much amount of LNG, they will need 15-30 LNG carriers. 


A Britain-based shipping and shipbuilding market research firm Clarksons also painted a bright future ahead for the LNG newbuilding market. Clarkson predicted that the global LNG carrier orders would reach 15 in 2017, with the annual LNG carrier newbuilding volume likely to average at 36 between 2018 and 2025.  

The Original Posted by enews@hankyung.com

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