LNG fleet passes 300-vessel mark: Report

THE in-service fleet of LNG carriers has passed the 300-ship mark. Reporting the development, specialist UK-based LNG carrier publication, LNG World Shipping, notes that it took 34 years for the fleet reach 100 vessels and a further eight years for it to break through the 200-vessel barrier. ?Now,? the publication reports, ?the 300-ship mark has been reached just over two and one-half years later.?

The 155,000 cu m membrane tank vessel Tangguh Jaya became the 300th member of the current fleet of gas carriers engaged in the deepsea movement of LNG on its delivery by Samsung Heavy Industries (SHI) to K Line and PT Meratus Line on 29 December 2008.

Tangguh Jaya is one of a fleet of seven LNG carriers being built in Korea for the carriage of LNG from the new Tangguh LNG export plant in Indonesia?s Papua province for carriage to customers in China, Korea and the west coast of North America.

LNG World Shipping reports that the seven-ship fleet comprises two 145,700m3 LNG carriers built by Daewoo Shipbuilding & Marine Engineering for Sovcomflot/NYK, two 155,000m3 vessels from Hyundai Heavy Industries for Teekay and three 155,000m3 ships from SHI for K Line. The LNG carriers are being delivered over the November 2008-May 2009 period and Indonesian shipping lines hold minority stakes in the vessels. The Tangguh LNG plant is scheduled to commence operations in the second quarter of 2009.

There are a further 89 LNG carriers on order worldwide for delivery through 2011, according to LNG World Shipping. LNG World Shipping comments: ?The pace of LNG carrier ordering has slowed in recent years due to delays in final investment decisions for further new LNG export projects. As a result, the pace of LNG carrier construction that has taken place over the last 30 months is unlikely to be equalled for some considerable time.? (*)