The global active LNGC fleet retracted slightly for the first time in a decade to 413 vessels; the order book remains flat at 147 vessels
General vessel oversupply maintains pressure on spot charter rates with a monthly average rate of $25,000/day, in line with our forecasts
Attrition of older LNGCs is gathering some momentum with c. 40 vessels aged 25+ years
Ship owners, under pressure from low dayrates, are increasingly discovering the FSRU charter market as a lucrative alternative to scrapping older vessels
Market visibility suggests current FSRU dayrates average $98,000 on contracts lasting 10 years or more
Japanese energy market deregulation is likely to make future Japanese LNG demand more uncertain; LNG oversupply looms from 2017 onwards
Excess LNG supply from the Pacific Basin could help maintain low gas prices in Europe and offer more competition to coal on the old continent
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