Large LNG carriers continue to fill newbuilding slots

While South Korea remains the favoured choice, limited building space may lead to some of these orders being redirected to China. Currently, the allocation has received preliminary approval, with Samsung (16), Hanwha (14), and Hyundai (10) being the selected shipyards.

However, congestion issues and a shortage of skilled labour have already resulted in delays of three to six months for some larger vessel orders. A rare opportunity is unfolding with the news that a 78,204-m³ LNG carrier in the latter stages of completion is now being offered for sale by Jovo Energy. Originally ordered in August 2021 and due for delivery in August 2023, the seller is now offering delivery in 2024 and seeking a price of US$175M with the charter agreed.

The contracting price was originally around US$120M, but values have shot up since then. The vessel was launched in February 2023.