LNG Tanker Rates Gaining on Trinidad Cargoes, Lorentzen Says
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Demand for tankers that haul liquefied natural gas is set to climb as much as 3 percent as Trinidad and Tobago ships more cargoes to Europe and Asia amid rising U.S. shale-gas production, Lorentzen & Stemoco AS said.
About 7 million metric tons of Trinidadian LNG will travel three or four times farther as imports into the U.S. decline, creating demand for up to 12 more ships a year, Knut Stangebye Olsen, a gas analyst at the Oslo-based shipping consultant, said by phone today. A fleet of about 350 tankers carries 217 million tons of the fuel a year, he said.