Japan LNG ship Slot needs attention

2013-08-15 09:00

By 2020, there is an estimated newbuilding demand for approximately 100 LNG carriers globally, but the global shipbuilding industry has sufficient construction capacity.

According to MarineNet news on the 13th, although some in the industry are concerned that the concentration of LNG carrier construction projects within a certain period might lead to shipyards' construction capacity being unable to meet demand, the global shipbuilding industry's average annual construction capacity reaches 40-60 vessels, thus there will be no situation where insufficient construction capacity prevents the building of LNG carriers.

However, Japanese cargo owners plan a large number of LNG carrier construction projects, so if their demand is concentrated in Japanese shipyards, it is possible that in Japan, construction slots might be fully booked, making it impossible to build more.

Currently, the number of LNG carriers under construction globally has reached 100, but LNG export transactions continue to show an upward trend, and there is still significant newbuilding demand.

Especially during the period when the United States began exporting shale gas, the demand for LNG carriers surged, requiring substantial construction capacity.

In response, a relevant person from a Japanese shipping company stated, “The global LNG carrier construction capacity fully meets its demand. Japan's Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Mitsui Shipbuilding, and Imabari Shipbuilding have an average annual LNG carrier construction capacity of about 15 vessels, and the construction performance of Japan Marine United (:JMU) can also be expected.

It was also stated, 'In South Korea alone, an average of 40 LNG carriers can be built annually, and China's Hudong-Zhonghua Shipbuilding Group and others can also build LNG carriers. The annual LNG carrier construction capacity of these three countries reaches 55-60 vessels, mainly for completion between 2017 and 2020, which is fully sufficient to meet demand.'

Against this backdrop, Japanese shipyards are accelerating their collaboration (:Kawasaki-Mitsui), mergers (:JMU), and establishment of joint ventures (MI LNG; Mitsubishi-Imabari) in the LNG carrier sector, thereby further expanding the scope of new LNG carrier construction projects.

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