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LNG Market Snapshot — January 2015

  • 4 new additions to the global LNGC fleet, now 395 vessels in total
  • Order book expanded to 132 vessels – 36 more vessels scheduled for 2015
  • General vessel oversupply keeps spot charter rates low ($39-59,000/day, drop by up to 25% m-o-m), vessel efficiency is losing significance as market slows further
  • Asian LNG spot market is sluggish, sellers failed to hold the line at $7.5/mmBtu and buyers are waiting for even lower prices
  • Oil majors’ capex cuts impact LNG developments in Australia – total spending could be cut by up to $143 billion through 2022

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