LNG shipping capacity is expanding rapidly at a time when weak demand has sent short term charter rates to their lowest levels since 2010. Despite this orders continue to be placed and without further ship retirements fleet capacity will grow 9.1% in 2015 and 9.5% in 2016. Scheduled deliveries will maintain rapid fleet growth through 2017 and 2018. The dire state of the spot/short term charter market should deter speculative orders but perspective owners and charterers are looking beyond the current surplus shipping capacity to the advent of US exports and potential exports from East Africa and Canada to provide additional demand for LNG shipping. Larger more fuel efficient ship designs are also tempting owners and charterers to look at new vessels rather than potentially available older ships. With little sign of owners being willing to scrap older vessels LNG shipping will go through a prolonged period of overcapacity. Excel download of LNG fleet database and statistics included.