LPG Shipping Fleet Introduction PDF

Liquified Petroleum Gas – An Introduction This report and/or presentation is based on our knowledge of relevant market conditions. Our estimates are made on the basis of this knowledge, but other circumstances, or new circumstances, as well as general uncertainty could cause the market to develop d...

Liquified Petroleum Gas – An Introduction This report and/or presentation is based on our knowledge of relevant market conditions. Our estimates are made on the basis of this knowledge, but other circumstances, or new circumstances, as well as general uncertainty could cause the market to develop differently. We take general reservation for misprints. MB Shipbrokers is not responsible or liable for any damages or losses resulting or arising directly or indirectly from your use of the report. © All rights reserved. No part of this publication may be reproduced in any material form (including photocopying or storing it in any medium by electronic means) without the written permission of the copyright owner. Likewise, any quoting is prohibited without the written permission of the copyright owner.  © 2024 MB Shipbrokers K/S. All rights reserv ed. LPG Shipping Fleet Introduction The LPG Fleet LPG Fundamentals on a Balanced Trajectory ‒ The LPG tanker fleet is composed of almost 50 million cubic meters ‒ In the upcoming years, the global LPG trade is expected to (M CBM), with more than two thirds allocated to the Very Large Gas experience a normalization in its growth trajectory with anticipated Carriers (VLGCs) subsector, which dominates the space in terms of growth rates averaging near 3%. This period is expected to see the capacity. The rest is mainly comprised of Medium Gas Carriers US and the Middle East continue to dominate as the primary (MGCs) and smaller gas carriers, rounding out the diverse exporters, though the rate of expansion may not match the robust composition of the fleet. increase observed in the previous years. China is anticipated to lead the way in import growth, with India and Southeast Asia also keeping up a positive trend. ‒ 2023 saw a marked increase in the contracting of newbuild (NB) LPG Tankers. A large portion of these new contracts were for vessels in the VLGC category, indicating a focused investment in this ‒ On the supply front, the fleet capacity witnessed a substantial rise subsector. in recent years, particularly in the capacity of VLGCs, thanks to a surge in contracting. However, this rate of expansion is predicted to become more moderate, with a notable increase anticipated after ‒ A considerable segment of the fleet is now equipped with more eco- this phase. friendly technology, including Eco-Electronic Engines and technologies aimed at reducing sulfur oxides (SOx) emissions. ‒ The outlook remains guardedly optimistic, with expectations of a steady, if more controlled, progress in the LPG sector, suggesting a promising equilibrium between demand and supply growth in the near future. Page 2  © 2024 MB Shipbrokers K/S. All rights reserv ed. LPG Carriers/Fully Pressurized LPG Carriers Introduction Fully Pressurised LPG Carrier ‒ LPG carriers are specialized vessels engineered to transport a varied range of cargoes, including LPG, Ammonia, and various Petrochemical Gases. ‒ These tankers are equipped with advanced cargo containment systems that maintain the cargo in its liquefied state under precise temperature and pressure conditions, and are categorized into Pressurized, Semi-Refrigerated, and Fully Refrigerated, each designed to meet specific cargo requirements. ‒ Pressurized LPG Carriers: Transport LPG and other gases at ambient temperatures but under high pressure, maintaining the cargo in liquid form without refrigeration. Ideal for short sea or coastal trades, these smaller vessels serve ports lacking advanced infrastructure. ‒ What are the temperature/pressure ratings for a fully pressurized carrier? ‒ What sizes are traditionally covered by this containment system (cbm)? Page 3  © 2024 MB Shipbrokers K/S. All rights reserv ed. Semi-Refrigerated LPG Carriers Semi-Refrigerated LPG Carriers Semi-Ref LPG Carrier ‒ Offer flexibility by carrying gases under both refrigerated and pressurized conditions. They adjust temperature and pressure as per cargo needs, suitable for various cargoes and longer routes without needing significant modifications. ‒ What are the temperature/pressure ratings for a semi-ref carrier? ‒ What sizes are traditionally covered by this containment system (cbm)? Page 4  © 2024 MB Shipbrokers K/S. All rights reserv ed. Fully Refrigerated LPG Carriers Fully Refrigerated LPG Carriers Fully Ref LPG Carrier ‒ Designed for large-volume LPG transport at very low temperatures, at atmospheric pressure. These are the largest carriers, enabling economical long-distance transportation, critical for connecting major LPG markets globally. ‒ What are the temperature/pressure ratings for a fully ref carrier? ‒ What sizes are traditionally covered by this containment system (cbm)? Page 5  © 2024 MB Shipbrokers K/S. All rights reserv ed. Take away Questions Think about the following ‒ What are the three base commodities that make up LPG? ‒ Where does LPG come from? ‒ Where does is rank alongside other energy sources from an emissions point of view? ‒ What sort of end uses to they provide? ‒ Who is the largest exporter/importer of LPG Page 6  © 2024 MB Shipbrokers K/S. All rights reserv ed. Any questions? Give us a call. +45 3344 1400 [email protected] Name Title [email protected] +45 3344 1400