With around 30 newbuildings estimated to be open for business recently, the future performance of the LNG shipping market catches the attention.
According to market sources, at present the number of unfixed LNG newbuildings at around 30-36 vessels or around half the ships on order have been speculatively ordered.
Maran Gas Maritime of Greece has contracted nine newbuilding LNG carriers at two South Korean yards, Daewoo Shipbuilding & Marine Engineering and Hyundai Samho Heavy Industries. Market players say they find it inconceivable for the Greek owner to place new orders that many vessels without having secured charter contracts. Market talk suggests about half of the vessels have been fixed with BG Group.
In case of Golar LNG, which is now sitting on 11 LNG carriers plus two FSRUs placed at Samsung Heavy Industries and Hyundai Samho Heavy Industries, its all the 13 newbuildings are open at least officially, said brokers.
Meanwhile, GasLog has tied up its four newbuilding LNG carriers, ordered at Samsung, to BG Group and additional two to Shell for a long term.
Alpha Tankers & Freighters is known to be weighing up a second order with different specifications to its first LNG newbuilding, placed at STX Offshore & Shipbuilding.
BW Gas is also said to be considering whether to proceed with a pair of options at Hyundai Heavy Industries, with two 155,000-cbm newbuildings on the book.
There arises new demand for LNG carriers in the US and Japan. However, observers point out that additional speculative orders would be unwelcome in the market, but orders on the project base of firm contract businesses would steadily be made going forward.