As demands for liquefied natural gas greatly increase, Japanese shipping companies are anticipated to place large orders for around 90 LNG carriers by 2020, reported by Nihon Keizai Shimbun on November 28.

Mitsui O.S.K. Lines, Ltd. is planning to increase its LNG carrier fleet from 70 units to 110 by 2020 while NYK to expand from 70 to 100 and K Line, from 45 to 65 units of LNG carrier.

Considering the value of one LNG carrier newbuild, or some $200m, a total of around $20bn new orders are expected to be placed.

Particularly, a considerable number of these newbuilding orders are forecasted to be taken by Japanese yards that it might be an opportunity to recover its market share which has been lagging behind Korea and China in LNG carrier sector.

Currently, Japanese shipbuilders are pushing ahead with new orders for LNG carrier with putting up their energy-saving performance and technology of operation efficiency through alliances and cooperation among companies.