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LNG Market Snapshot – January 2016

  • The global active LNGC fleet grew by 8 to 421 vessels whilst the order book has contracted to 137 vessels since November
  • General vessel oversupply has increased with the number of idled and laid-up vessels up by 38% since November
  • The pressure on spot charter rates remains with monthly average rates down by $1,300 to $23,700/day
  • More vessel lay-ups will be required to improve the average monthly rate
  • 48 newbuilds are expected to enter the market this year, including 10 delayed in 2015
  • The overall order book composition has become more speculative, potentially giving room for more substantial, and in our view needed, tonnage adjustments
  • Warmer weather weighed on LNG demand and pushed landed LNG prices below $5/mmBtu and could expand the roster of opportunistic LNG buyers

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