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Global LNG Fleet to Almost 1,000 by 2025 Amid Growing Demand

LNG

Growing demand for LNG is expected to drive the global fleet of LNG vessels up by around 50% to almost 1,000 by 2025 according to shipping giant Angelicoussis Group via Montel.

  • There are currently around 630 vessels on the water and around 300 on order, said deputy CEO Sveinung Stohle.
  • Many older vessels using steam turbines are however expected to be phased out this decade and beyond.
  • “The market will remain tight. The phase-out of steam turbines is very unclear and will put added pressure on LNG shipping,” he said.
  • LNG freight is expected to fall more than 50% by the end of winter after holding around $160k per day in November according to Spark Commodities data.
Energy BulletsCommodities
Energy BulletsCommodities

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