LNG Shipping Costs: A Roller Coaster in Early 2021

Home Community Industry News LNG Shipping Costs: A Roller Coaster in Early 2021

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    Greensea Systems
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    For most of 2020, the liquefied natural gas (LNG) shipping market was in a depressed state like many other segments of the global gas industry. LNG export cargoes fell by 0.2% y-o-y in 2020 to reach 5,682 shipments, driven by a slowdown in LNG demand amid the COVID-19 pandemic. The commissioning of various LNG carriers around the world exacerbated that trend. Between the period 2018 and 2020, the market witnessed the record commissioning of LNG carriers, with 134 LNG carriers coming on line, with 41 of those being commissioned in 2020. As a result, at the beginning of 2021, there were over 600 LNG carriers operating in the global market.

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