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LNG Market Snapshot – February 2016

  • The global active LNGC fleet grew by 1 to 422 vessels whilst the order book has contracted to 138 vessels since November
  • A data availability lag resulted in January’s order book to be underreported by 2 vessels
  • General vessel oversupply maintains pressure on spot charter rates, which remain within our 12-month target range of $25-35,000/day
  • 47 newbuilds are expected to enter the market this year, including 10 delayed in 2015
  • More vessel lay-ups will be required to improve the average monthly rate
  • FSRU market could provide alternative to idling or laying-up unemployed LNGCs
  • FSRU model as a ‘quick fix’ for energy short economies frequently results in robust daily rates over long charter periods

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by Alexander Wilk // 29 February, 2016

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