LNG shipbuilding loses steam as commodity demand tanks
Shipbuilding orders have fallen off a cliff from record highs over the past two years despite hype over three mega tenders involving tens of billions in dollars of newbuilds. Delivery of vessels tied to these tenders would have been spread out for several years, which would not help significantly in meeting massive targets for order intake, observers say
As well as a slowdown in new orders, LNG shipbuilders have to grapple with deferrals of their existing backlogs as some owners are bound to seek extra time for uncommitted tonnage