LNG: The cargo that launched a thousand ships

LNG shipping has been a growth story that looks to be on track for another spurt.

Ten years ago, the LNG carrier fleet numbered 374 vessels, the standard 160,000-cbm newbuilding cost $198.5m and there were 96 ships on order.

Today, the fleet has ballooned to 720 ships with just over 300 on order at the end of March and the most recent prices for workhorse 174,000-cbm newbuildings are almost $260m.