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LNG Market Snapshot — March 2015

  • The global active LNGC fleet remains at 399 vessels, unchanged m-o-m
  • 34 more vessels scheduled for delivery in 2015
  • General vessel oversupply maintains pressure on spot charter rates ($30-40,000/day, down by up to 10% m-o-m)
  • Revenue decline slowed in March and rates converged in their respective basins
  • LNGC market increasingly looks for higher vessel flexibility and uniform vessel parameters of c. 170,000m3 capacity with dual- or tri-fuel propulsion
  • US LNG needs a tight LNG market to be competitive – unlikely to absorb a large number of speculative orders
  • Asian LNG spot market remains sluggish, prompting China to speed up domestic gas market reforms

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