Despite the current weakness in liquefied natural gas (LNG) shipping rates, the market will require more LNG vessels than listed on the current orderbook, shipping consultancy Drewry said, adding that it maintains its bullish long-term outlook for LNG shipping.
Spot rates for dual fuel diesel electric LNG vessels have been hovering around USD 30,000 per day since the second quarter of last year, representing a decline of 80% compared to the last market peak in 2012, mainly attributed to a strong fleet growth coupled with weak cargo demand.
