Long-term Outlook for LNG Shipping is Bright but Vessel Shortage Looms | OilPrice.com

A new report from Drewry Shipping expects the shipping market for liquefied natural gas (LNG) to strengthen in the next few years and warned that the number of vessels may be inadequate to deal with expected demand.In Drewry’s latest LNG Forecast and cited by LNG World Shipping on Thursday, analysts estimate some 125 million metric tons of new production capacity is currently under construction. The LNG market will likely grow and, thus, more vessels will need to be built to transport more supply around the world.“As a majority of the supply from plants under construction has been contracted on long-term agreements, it is likely that LNG will be traded, so requiring more vessels,” observed Shresth Sharma, lead LNG shipping analyst for Drewry.

Source: Long-term Outlook for LNG Shipping is Bright but Vessel Shortage Looms | OilPrice.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s