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Global shipping market -I : LNG shipping market at point of inflection
Dec 02: The LNG shipping industry seems to be at the point of inflexion.
8But new LNG production is coming on stream, with T9 of Malaysia LNG, Petronas FLNG1 and train 2 operations of Gorgon and Sabine Pass set to go on stream.
8Looking to 2017, significant additional production is expected from Gorgon and Sabine Pass together with new production from Whetstone.
8All in all, approximately 135 million tonnes of new production equivalent to 52% of current LNG production is expected to deliver between now and 1Q 2021.
8During recent months a number of market participants has chosen to take shipping coverage for 2017.
8Up to 16 vessels in the global spot fleet have been fixed for periods of 6-18 months starting between September and February. This tightens the outlook for structural availability into 2017.
8As new LNG arrives and prompt availability of shipping tonnage declines, charterer interest in period contracts is expected to grow bringing the shipping business ever closer to its inflection point.
8Discipline among ship owners continues to be maintained with only 6 LNG carriers (approximately 1% of the global fleet) ordered this year to date.
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