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Record low newbuild orders placed in 2Q19

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LNG Industry,

According to the latest research from VesselsValue, newbuilding orders dropped to record lows in 2Q19.

VesselsValue’s Head Cargo Analyst, Olivia Watkins, recently reviewed which shipyards received orders and which vessel types were popular purchases.

With regards to gas carriers, the findings were as follows:

“The total number of LNG newbuild orders has fallen by 39% in the first half of 2019 compared to the same period in 2018.

“The Greeks are leading the way with the number of orders placed. Since the beginning of the year, Maran Gas Maritime has ordered a total of five vessels (174 000 m3, 2021, Daewoo), all on separate occasions.

“The total number of LPG newbuild orders has fallen by 73% for 2019 year to date compared to 2018 year to date.

“It has been quiet with only six orders placed so far. Mitsui and Co started the trend being first to order a VLGC LPG (84 600 m3, 2020, HHI) in January of this year. Heading into the middle of the year and after a considerable uptick in rates throughout the spring months, KSS Line has been the most recent company to place an order of one option VLGC LPG (86 000 m3, 2021, HHI) for US$ 76 million.”

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