Industry news

LNG market still need more ships

Although the market downturn, but in the future LNG market still need more ships, according to the study of Drewry during 2020, owners need to custom-made 65 ships in order to meet the demand for shipping.


Global shipping consultancy Drewry release the new LNG Market Prospect Outlook report shows that despite the current LNG shipping prices at a low level, but the agency maintain optimistic about the long-term prospects for LNG shipping, and LNG transportation market compared to the hand-held orders, need to custom made more ships.


Many experts complain that has enough new ship orders. However, Drewry chief LNG shipping analyst Shresth Sharma said, at present about capacity of 1.25 million tons of LNG plant is under construction, the future is to have more LNG plant construction plan. Most of the plants currently under construction have already signed a long-term agreement, which means that the future will need to more ship used to transport LNG.


In addition, Shresth Sharma said the widening of the Panama Canal, by 2020 that new LNG plant put into operation will also make the ship owner custom-made 65 ships, in order to meet the demand for shipping.

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