Japan to increase LNG carrier numbers by 2020
Leading shipping companies in Japan may order up to 90 new liquefied natural gas (LNG) carriers by 2020, as Asian markets look to ship LNG from North America and Australia to met rising domestic demand. A total of 90 ships will cost in the region of US$ 17.61 billion.
In September this year, Japan became nuclear free. Japan, as well as China and South Korea, is now turning to LNG as an energy source to provide electricity.
In 2012, global LNG trading volume stood at 250 million t. It is anticipated that by 2020 this figure will rise to 400 million t.
Japan’s largest shipper, Nippon Yusen KK, said it that by 2020, it would hope to have acquired 30 more ships than it currently owns, increasing its fleet to 100 strong.
A spokesman for shipping company Mitsui said that the company planned to own 110 ships by 2020, compared with 70 today and Kawasaki Kisen Kaisha Ltd wanted to increase their fleet with the addition of 20 LNG carriers by 2020.
Edited from various sources by Ted Monroe
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/29112013/japan_shipping_companies_to_order_90_lng_carriers_by_2020/
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