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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