LNG newbuilding values at record high

The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first five months of 2024, an increase of 129%, according to new analysis from VesselsValue. Newbuilding prices for 174,000 cu m ship types are currently at an all-time high of $269m, up by 6.1%.

Values for LNG vessels have increased across all sub-sectors and age categories since the start of the year.

At the moment, the orderbook for the large LNG sector specifically, stands at around 64% in comparison to the live fleet. 

“Positive sentiment for this sector stemming from geopolitical uncertainties and an increased amount of LNG being delivered to EU ports to replace the Russian gas formerly shipped by pipeline, in combination with a push towards newer, greener vessels, have ensured that newbuilding demand for the LNG sector has remained firm,” stated a release from VesselsValue. 

LNG carriers and containerships dominate Asian shipyard orderbooks at present with record volumes of newbuilds to deliver through to 2028.