CoolCo says up to 20 new LNG ships a year needed to replace old steamships

LNG shipowner Cool Company (CoolCo) calculates that the retirement of old steam turbine LNG carriers is set to create an additional demand for up to 20 vessels per year.

Speaking on a first-quarter results call, CoolCo chief executive Richard Tyrrell said the new LNG supply due to come onstream from the Americas and the retirement of the steamships are two factors that will drive LNG shipping demand.