More than 40 new LNG carriers will be required in the next three years to meet the needs of the shipping market, according to Wells Fargo Securities.
In a report entitled "Bottoms up LNG", senior analyst Michael Webber and associate analyst Hillary Cacanando say growing inefficiencies in the LNG market are driving more tonne-mile growth than expected.
In this environment, Wells Fargo says LNG carrier spot rates are experiencing “strong momentum”, up 76% year on year and at a three-year high.
