LNG freight rates will soar to $150,000 per day in the first quarter of 2013
It appears that Greek shipowners have changed course toward liquefied natural gas carriers, as, according to shipbroking agency Clarkson, eight Greek shipowners have spent $7.4 billion on orders for 38 such vessels, accounting for almost half of all global orders.
An LNG carrier costs about $200 million and Greek shipowners are behind 46 percent of all 82 outstanding orders. Chartering rates for LNG ships currently stand near $130,000 per day, while in the last quarter of the year they are expected to drop to $125,000.
Fearnley Securities AS estimates that LNG freight rates will soar to $150,000 per day in the first quarter of 2013. “Greeks could not possibly be absent from a sector that up to 2030 is expected to be carrying the second most important fuel in the world and currently employs a fleet of 434 vessels,” a shipping analyst who specializes in funding investment in LNG carriers told Kathimerini.
The LNG carrier market is a very promising one as consumption of this form of fuel has been rising rapidly in recent years. Shipping analysts say that this section of the market is showing significant growth thanks to the discovery of new reserves in Africa and Australia, which is threatening the monopolies of the traditional oil and natural gas powers in the Middle East and in Europe.
Click here to view the Greek firms that have a dynamic presence in the LNG sector.
By Nikos Bardounias
Source: ekathimerini.com
