LNG vessel market

In 2004, world LNG trade reached over 130 mtpa and drew significantly raise in the LNG demand . The changes arise from both sides import and supply.On the import side, some new players such as India and UK enter to the market.India imported his first LNG cargo in 2004 and UK restart to import LNG in July 2005 after long interval from 1964.North America's demand are steady increasing and China started recently to import.Along with these changes some other countries like Spain, South korea, and Taiwan are showing strong demand to import LNG.In this circumstance we can say that Energy Dragon is awaking.On the LNG supply side,existing projects are scheduling to expansion their production.Some new projects are under construction and is expected that enter to market by 2010 and 2011.Studies by MOL indicate that there was a 187 LNG vessels by August 2005.A 10 of these is uncommitted.Shipyards have a capacity for 35 further vessel by end of 2010 and 30 vessel are uncommitted and can be dedicated to any project by 2010.So the supply of LNG vessel by end of 2010 would be 75.Meanwhile MOL study point out that the number of LNG vessle reqired to meet demand of LNG projects would be startd till 2010 is around 85 i.e a there is a shortfall of approximatly 10 vessel by the end of 2010.