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NE Asia LNG imports surge not enough for shipping

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Report summary

Stronger than expected LNG import growth in NE Asia has provided a welcome boost for LNG shipping demand. But sadly for ship owners, the increase in trade has not been reflected with a big increase in charter rates. Year-on-year LNG imports into China, Japan, South Korea and Taiwan increased a staggering 14.5 million tonnes in the first eight months of 2017 year-on-year. To put this huge increase into context, the world’s fourth largest LNG importer – India - imports were just 11.7 Mt over the same period. Key for LNG shipping demand, long-haul imports from the Atlantic Basin (including the US Gulf) into NE Asia almost doubled. However, the delivery of new LNG ships has outpaced LNG shipping demand. This has kept a lid on spot/short-term charter rates.

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  • Document

    NE Asia LNG demand and shipping charts.xlsx

    XLSX 256.18 KB

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    NE Asia LNG imports surge not enough for shipping

    PDF 419.47 KB

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Table of contents

  • Executive summary
  • NE Asia LNG imports up 14% January to August 2017
  • US Gulf LNG exports help come back of long-haul imports
  • LNG fleet still growing rapidly
  • Strong demand not enough to lift short-term/spot charter rates
  • Appendix

Tables and charts

This report includes 17 images and tables including:

Images

  • NE Asia LNG imports by country (mmtpa)
  • NE Asia LNG imports by country (tonne-miles)
  • NE Asia LNG imports by source (mmtpa)
  • NE Asia LNG imports by source (tonne-miles)
  • Average distance travelled by LNG imports
  • Orders and deliveries v. short-term charter rates
  • Deliveries by size v. fleet development
  • Japan LNG imports by source (annualised)
  • Japan LNG imports by source (tonne-miles)
  • S. Korea LNG imports by source (annualised)
  • S. Korea LNG imports by source (tonne-miles)
  • Taiwan LNG imports by source (annualised)
  • Taiwan LNG imports by source (tonne-miles)
  • China LNG imports by source (annualised)
  • China LNG imports by source (tonne-miles)
  • India LNG imports by source (annualised)
  • India LNG imports by source (tonne-miles)

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