Research and Markets - Global LNG Tanker Market 2016 - Forecasts to 2020 with Samsung, Mitsubishi, Hyundai, DSME, Mitsui OSK Lines, NYK Lines, Yamal LNG Dominating

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Sep 22, 2016, 11:10 ET

DUBLIN, September 22, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global LNG Tanker Market 2016-2020" report to their offering.

The analysts forecast the global LNG tanker market to grow at a CAGR of 6.21% during the period 2016-2020.

Global LNG Tanker Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The global LNG tanker market is highly reliant upon the state of the global oil industry and the connected crude oil and natural gas prices. The recent rout in the global crude prices is expected to have a significant effect on the course followed by the LNG tanker market over the forecast period.

One of the major trends that has been seen in the current LNG tanker market is the revamping in the carrier propulsion systems. Ever since the very first LNG vessel was inducted into service, some half a century ago, these LNG carriers have undergone a paradigm shift in their design. The historical fleet of LNG tankers in the global trade had been fitted with a reliable, but moderately efficient steam turbine-driven propulsion systems. The only fuel option these systems had was related to the boil-off gases, which was a by-product of the storage of natural gas under cryogenic conditions.

According to the report, stringent marine pollution laws will be a key driver for market growth. As with any form of energy consumer, the marine transportation industry also affects the environment adversely in many ways, and the LNG tanker industry provides a potential exception. One of the major trends seen over the past decade is the significant increase in the marine pollution. The result of this has been increase in the focus of the marine environment protection and attempt to revive the marine ecosystem. However, being a relatively cleaner fuel than the counterparts, the LNG tanker market is expected to reap tons of benefits from the imposing of the stricter marine pollution laws.

Further, the report states that diminishing inter-basin LNG trade will be a challenge for the market. One of the core aspects of the LNG trade market, since the time of its inception in the 1960s, has been the trading opportunities, which exist between the two basins of the world. The global LNG marketplace has been demarcated between two distinct regions, based on the oceans that separate them. These are the Pacific and the Atlantics basin LNG markets.

Key vendors

Samsung Heavy Industries
Mitsubishi Heavy Industries
Hyundai Heavy Industries
DSME
Mitsui OSK Lines
YK Lines
Yamal LNG

Key Topics Covered:

Part 01: Executive summary

Part 02: Scope of the report

Part 03: Market research methodology

Part 04: Market landscape

Part 05: Market segmentation by containment technology

Part 06: Geographical segmentation

Part 07: Market drivers

Part 08: Impact of drivers

Part 09: Market challenges

Part 10: Impact of drivers and challenges

Part 11: Market trends

Part 12: Vendor landscape

Part 13: Key vendor analysis

Part 14: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/thrfrd/global_lng_tanker

Related Topics: LNG (Liquefied Natural Gas)

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SOURCE Research and Markets