Name: Will there be an LNG Shipping oversupply in 2024?
Brand: Wood Mackenzie
SKU: 161089
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Author: Wood Mackenzie

Insight 05 December 2023

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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The LNG market could be oversupplied with shipping capacity in 2024. More LNG carriers than ever are expected to be delivered into the fleet next year. There is limited, organic LNG supply growth forecasted, with risk attached to several project start-ups. And, thanks to strong spot LNG demand in Europe, tonne-mile demand for LNG carriers is generally soft. On the face of it, the supply of LNG ships will outpace demand for them, putting downward pressure on spot charter rates. But we predict a more nuanced reality. Several factors will impact LNG shipping demand in a big way next year. Will lacklustre Asian spot LNG demand result in low shipping utilization? Or will the fleet be kept busy with increasing operational adjustments and trading? In this insight, we present the upside and downside risks to an oversupplied LNG shipping market in 2024.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        Executive Summary
    </li>

<li class="list__item-toggle">
        <a href="#c3adcce6-8dc8-42c2-94fd-48ca740ae987" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="c3adcce6-8dc8-42c2-94fd-48ca740ae987" aria-expanded="false">
            A record number of ships will be delivered, driving the risk of oversupply
        </a>
        <ul id="c3adcce6-8dc8-42c2-94fd-48ca740ae987" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        60 standard LNG carriers will be delivered to the fleet next year
    </li>
    <li class="push-quarter--bottom">
        Timing of supply additions will be critical
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#8462e743-259d-4ba7-b464-035f239cc626" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="8462e743-259d-4ba7-b464-035f239cc626" aria-expanded="false">
            Market dynamics are increasing LNG shipping demand
        </a>
        <ul id="8462e743-259d-4ba7-b464-035f239cc626" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Panama Canal utilizationhas fallen: will it return as cross-basin trade ramps up?
    </li>
    <li class="push-quarter--bottom">
        Value creation through trading and optimisation is rising
    </li>

</ul>
    </li>

<li class="list__item-toggle font-semibold">
        Will the market receive more shipping capacity than is needed?
    </li>

</ul>

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<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
        <li class="list__item push-quarter--bottom">Sabine Pass to Tokyo Bay voyage costs comparison</li><li class="list__item push-quarter--bottom">Proportion of US LNG – to Asia by selected route</li><li class="list__item push-quarter--bottom">Global Floating Storage* YoY comparison</li><li class="list__item push-quarter--bottom">NW Europe LNG contango opportunity 2023*</li>
    </ul>

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<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >2024_LNG_Ship_deliveries.xlsx</p>
<p class="uppercase delta">
    <span>XLSX</span>
    <span>33.05 KB</span>
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</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Will there be an LNG Shipping oversupply in 2024?</p>
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    <span>PDF</span>
    <span>966.86 KB</span>
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