Shale gas creation is in a relentless stage in certain pieces of the world, and this will be a high-sway driver for the worldwide LPG tanker market. The market for LPG tankers is relied upon to show solid development until the part of the arrangement time of this report by virtue of a few different factors also. With the high creation of shale gas, there has been a simultaneous increment in the exchange of LPG. Simultaneously, the interest for LPG for cooking and HVAC applications is on the ascent, filling the interest for safe stockpiling and transportation of LPG. This has along these lines prompted the interest for LPG tankers to swing upward.
Because of the few positive variables following up on the market, a few LPG conveys and tanker organizations have either officially extended their abilities or are wanting to do as such sooner rather than later. This report looks at how the fast development of the gas vitality market will affect the elements of the worldwide LPG tanker market.
So as to introduce a profoundly target investigation, the report makes utilized of a decent blend of essential and optional research and backs it with the autonomous examination of our prepared research investigators. The report uncovers the most rewarding local markets for LPG tankers and which kind of LPG tankers will see the most astounding interest.
Pre-Book LPG Tanker Market Premium Industry Research Report with Analysis
LPG Tanker Market: Trends
The top three trends that are giving the global LPG tanker market a boost are: Increased shale gas production from hitherto untapped reserves, an upswing in international gas trade, and the continued use of LPG as a cooking fuel.
The volatility in crude oil prices has prompted the industry to extracting shale gas and oil. This has been possible on a large scale because of the technological improvements in fracking practices. The amount of shale gas moving from the U.S. to countries in the Asia Pacific and North Africa regions is on the rise not just because demand is rising, but also because transportation costs have now reduced owing to a fall in oil prices. However, the erratic behavior of crude oil prices has led to the prices of LPG becoming stronger, which has diluted demand to some degree. This factor could hurt the demand for LPG tankers.
However, the overall outlook of the global LPG tanker market remains positive in the short term.
LPG Tanker Market: Segmentation
Gas tankers can be fully pressurized, fully refrigerated, or semi-pressurized. Carriers for ethylene are regarded as a separate segment in the market because these require extra refrigeration.
The capacity of such carries can range from as low as 500 cubic meters to over 10,000 cubic meters. Thus, the type of gas tanker selected would directly depend on the volume of LPG that is to be transported or stored. By size, the types of LPG tankers available on the market are small, medium, large, and very large gas carriers.
Top players in this space include, but are not limited to: Great Eastern Shipping Company Ltd., Navigator Holdings Ltd., EXMAR, and Pertamina.