What are the prospects for LNG ship-owners and ship-builders?
LNG shipping has been in the doldrums over the last few years as orders for new ships have dried up and short-time charter rates have fallen to levels which barely cover operating costs. The surge of LNG production as new projects come on stream must have given ship-owners some hope that their fortunes would start to improve and ship-builders must have been encouraged by the prospects of orders for new ships by the final investment decisions (FID) for Australia’s Gorgon project and PNG LNG in 2009 and by the apparent progress being made on projects at the planning stage, especially in Australia. But what is the state of LNG shipping in mid-2010 and are there any signs that activity is beginning to pick-up?
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