Who’s the top valued LNG shipping company?

AUGUST 17, 2015—What company has the Highest Value Whole Gas (either LNG or LPG) shipping fleet? According to VesselsValue.com, that honor belongs to Teekay LNG Partners, with 37 vessels and a capacity of 6,105,598 cubic meter (cbm). VesselsValue.com puts the total value at $6.823 billion. This includes 20 LNG vessels on order, which has a newbuilding contract resale of $4.7 billion.

Click on the accompanying infographic to enlarge.

This past June, Teekay LNG Partners, L.P., Hamilton, Bermuda, entered into a 13-year charter contract with BP Shipping Limited (BP) for one LNG carrier newbuilding, plus an option exercisable by BP by the end of the third quarter of 2015 for one additional LNG carrier charter under similar terms. The vessels, including the optional charter if exercised by BP, will primarily provide LNG transportation of BP’s LNG volumes from the Freeport LNG project located on Quintana Island near Freeport, TX, which is scheduled for start-up in 2018 and will consist of three LNG trains with a total capacity of 13.2 million metric tonnes per annum.

In connection with the signing of the BP contracts, the Partnership ordered two fuel-efficient 174,000 cbm LNG carrier newbuildings to be constructed by Hyundai Samho Heavy Industries Co., Ltd. of South Korea for a fully built-up cost of about $425 million, scheduled for delivery in the first quarter of 2019. As part of the order, the Partnership received an option to order one additional vessel. These newbuildings will be constructed with MAN Diesel & Turbo's M-type, Electronically Controlled, Gas Injection (ME-GI) twin engines, which are designed to be significantly more fuel-efficient and have lower emission levels than engines currently used in LNG shipping.

Rounding out the Top Five LNG/LPG Shipping Companies are: MOL with 31 ships (4,801,626 cbm) valued at $5.18 billion, Qatar Gas Transport Co., 26 ships (6,275,376 cbm) valued at $4.93 billion, Maran Gas Maritime with 23 ships (3,821,040 cbm) valued at $4.11 billion, and GasLog Ltd. with 19 ships (3,115,496 cbm) valued at $3.34 billion).

 

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