LPG Tanker Market: Overview
Shale gasproduction is in an unstoppable phase in some parts of the world, and this willbe a high-impact driver for the globalLPG tanker market. The market for LPG tankers is expected to displaystrong growth until the end of the forecast period of this report on account ofseveral other factors as well. With the high production of shale gas, there hasbeen a concurrent increase in the trade of LPG. At the same time, the demandfor LPG for cooking and HVAC applications is on the rise, fueling the demand forsafe storage and transportation of LPG. This has subsequently led to the demandfor LPG tankers to swing upward.
As aresult of the several positive factors acting on the market, several LPGcarries and tanker companies have either already expanded their capacities orare planning to do so in the near future. This report examines how the rapidexpansion of the gas energy market will impact the dynamics of the global LPGtanker market.
In orderto present a highly objective analysis, the report makes used of a balanced mixof primary and secondary research and backs it with the independent analysis ofour seasoned research analysts. The report reveals the most lucrative regionalmarkets for LPG tankers and which type of LPG tankers will see the highest demand.
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LPG Tanker Market: Trends
The topthree trends that are giving the global LPG tanker market a boost are:Increased shale gas production from hitherto untapped reserves, an upswing ininternational gas trade, and the continued use of LPG as a cooking fuel.
Thevolatility in crude oil prices has prompted the industry to extracting shalegas and oil. This has been possible on a large scale because of thetechnological improvements in fracking practices. The amount of shale gasmoving from the U.S. to countries in the Asia Pacific and North Africa regionsis on the rise not just because demand is rising, but also becausetransportation 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 becomingstronger, which has diluted demand to some degree. This factor could hurt thedemand for LPG tankers.
However,the overall outlook of the global LPG tanker market remains positive in theshort term.
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LPG Tanker Market: Segmentation
Gastankers can be fully pressurized, fully refrigerated, or semi-pressurized.Carriers for ethylene are regarded as a separate segment in the market becausethese require extra refrigeration.
Thecapacity of such carries can range from as low as 500 cubic meters to over10,000 cubic meters. Thus, the type of gas tanker selected would directlydepend on the volume of LPG that is to be transported or stored. By size, thetypes of LPG tankers available on the market are small, medium, large, and verylarge gas carriers.
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LPG Tanker Market: Region-wise Outlook
Bygeography, the global market for LPG tankers can be segmented into: NorthAmerica, Asia Pacific, Europe, and Rest of the World. Because the Middle Easthas conventionally been the hub for oil production, the LPG gas tanker marketin the region has been relatively large. However, with shale oil productionshowing a spike in the U.S. and Canada, oil and gas companies in thesecountries are now spending more on transporting the resource. That will,consequently, cause the demand for LPG tankers to rise in these countries.
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