Very Large LPG carriers (VLGC over 80,000m3) are estimated to be in shortage after 2012 as some resources say.

It is predicted that old vessels over 20 years old would be eliminated in the market while the new orders for VLGC are only 10% of current fleet. Therefore insiders predict VLGC fleet will keep or even become lower than the current level.

Besides, LPG supply is expected to on the rise due to Middle East production expansion. Since the summer of this year, market demand for VLGC has been surged and is likely to keep the good momentum.

According to Clarkson, till the end of September, global VLGC fleet is about 140 vessels, less than the 142 fleet for the same period of last year. Growing cargo supply and stable fleet size jointly create the current excellent market for the ship type.

Present order backlog for VLGC only totaled 15 vessels, 10% of current fleet. These new VLGC would be delivered two in 2011, four in 2012 and nine in 2013.