Korean shipbuilders await improved earnings as LNG carrier price hit all-time high
Jung-hwan Hwang
Sep 19, 2021 (Gmt+09:00)
South Korean shipbuilders, which have secured almost 97% of the orders placed for liquefied natural gas (LNG) carriers this year, expect to see their earnings improve as LNG carrier price hits an all-time high in six years.
According to the global market researcher Clarkson Research Service on Sept. 18, the average price for a 174,000-cubic-meter LNG carrier recently touched around $200 million for the first time since 2015 when it logged a record-high price of $275 million.
Since 2017, LNG tanker prices have not moved much. However, the growing demand for LNG as an eco-friendly fuel has led to steady growth in LNG carrier prices. This year alone, the price of LNG carriers increased by 9.9% compared to the beginning of the year.
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