LNG newbuilding orderbook nears historic levels

This is despite only seeing a trickle of orders placed for Qatar Energy’s massive 100+ LNG newbuilding programme for its North Field East expansion, Golden Pass Project in the US and fleet renewal plans. BRL reported in mid-November that the “major news of the week centred on movement at last from Qatar on their negotiations for up to 151 very large LNG carriers.”

In November, Qatar Energy confirmed contracts priced at US$192M apiece for four newbuilds at DSME and two at SHI. It placed orders for four LNG carriers at China’s Hudong Zhonghua Shipbuilding in October.

BRL also reported Maran Gas had ordered two 170,000-m³ LNG carriers at DSME priced at US$206.5M each. These vessels have an overall length of 294.9 m, with propulsion supplied by two MAN B&W 5G70ME-C9-GI engines. Deliveries for these two LNG carriers are July and November 2024.

Speaking of deliveries, Capital Product Partners reported it has added Aristidis I to its fleet, the last of six 174,000-m³, X-DF propulsion LNG carriers from HHI. The acquisition was financed with US$82M cash at hand and the assumption of US$123M of debt.

The six LNG carrier newbuilds all have long-term charters. Commenting on the US$1.2Bn newbuild programme, Capital General Partners chief executive Jerry Kalogiratos said, “The LNG market is supported by positive long-term fundamentals, as both natural gas and LNG are expected to play a key role in the energy transition to net zero and as such, we are excited to be growing in this segment at an opportune moment.”