LNG Carrier Market to Amount to USD 6.47 Billion in its Value, Expects Visiongain25 Jan 2013 • by Natalie Aster
LNG carriers are used to transport liquefied natural gas around the globe. They have been in widespread commercial service since the late 1970s, but only in the 21st century have they become an integral part of the global energy market - more than 80% of the LNG carriers currently in use were built after 2000 despite extremely low scrappage rates. According to the report “The LNG Carrier Market 2013-2023” by Visiongain, today, significant natural gas discoveries at distance from demand markets, combined with strong natural gas demand in East Asia, is driving investment in the LNG carriers needed to join supply and demand.
Typically, investment in LNG carriers is determined by the rate at which LNG liquefaction terminals are developed. However, due to a range of factors, Visiongain predicts less dependent, very strong growth in capital expenditure on LNG carriers over the next 10 years. Amongst the core factors ensuring the independence and strength of this market are the near 100% utilisation rates of the LNG carrier fleet, the growth of the LNG spot market, record LNG vessel charter rates and temporary expansions and fluctuations in the average nautical mileage of the fleet. Nonetheless, liquefaction terminals will also see strong investment over the next 10 years and, when combined with the above factors, will drive heavy capital expenditure on LNG carriers between 2013-2023. Visiongain has determined that the value of the global LNG Carrier market in 2013 will reach $6.47bn.
The LNG Carrier Market 2013-2023
Published: January, 2013
Price: US$ 2,497.00
More information can be found in the report “The LNG Carrier Market 2013-2023” by Visiongain.
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