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LNG carriers sector booming

Greek ship owners are investing in the building of 29 new liquified natural gas (LNG) carriers proving to carry Australian exports of this natural gas

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LNG carriers sector booming

The newly delivered LNG carrier Taitar No.2.

29 Dec 2011

Greek ship owners are investing in the building of 29 new liquified natural gas (LNG) carriers proving to carry Australian exports of this natural gas.
Australia is currently the world's fourth largest LNG exporter with overseas shipments of about 20 million tonnes per annum.

Currently, the LNG shipping sector is having one of its biggest years, with the amount of LNG ships being ordered proof that while other shipping sectors are struggling, the LNG carrier sector is booming.
An increase in demand in Asia has seen the exports from Australia expand rapidly in the past five years. And with the current world climate change debate, supply of a natural gas is pertinent for Asia which is seeking a sustainable economic option as well as to diversifty its energy sources.

While Greece has taken the biggest supply of LNG carrier building for independent ship owners, others in Northern Europe and Scandanavia have taken 23 orders for LNG carriers, Japanese ship owners have taken seven and the US have taken five ships believing that by 2015, the ships will be a rewarding investment for the independent ship owners. The LNG carriers that are contracted in Korean yards for example, are priced at USD 200 million.

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