Friday, November 23, 2012

[Marine] LNGC orders to increase

LNGC orders to increase

With a forecast that about 35-40 newbuilding LNG carriers will be ordered in the whole 2013, Korean shipyards will possibly book many of them.

Park Mu-Hyun, analyst of E*Trade Securities said "In November 2011, market players predicted that about 32 vessels and $6bn of LNG carriers will be placed for order in 2012."

He added "According to Clarkson, a total of 25 LNG carriers, $4.9bn of orders have been placed year-to-date, which represents 78% of those prospected."

Park forecasted that with orders contracted during the remainder of this year, total amount of orders will reach closer to the estimate. He explained that LNG carrier market is possibly to improve due to heating demand in the winter as Awilco LNG had said and recently business talks over newbuilding LNG carrier are growing in Korean shipyards.

Moreover, he said that Angola LNG production project is scheduled to begin in early next year.

Published : November 23, 2012

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