Greece tops fleet value chart as LNG orders fly in

  • Dec 27, 2018
  • BLNG

Growth in liquefied natural gas tanker orders from the Greek shipowners has put the country top of the list in terms of fleet value that has topped $100 billion in 2018.

The Greek fleet has increased its total value by over $5 billion in one year, according to the data provider VesselsValue.

The increased fortune comes from growth in LNG ordering and a tanker value uptick. Greece has moved into pole position as owning the highest valued LNG fleet in the world, up from $13 billion at the start of 2018 to $18.4 billion.

This puts Greek owners ahead of Japan, whose fleet comes in second at $15.2 billion.

China has seen the largest increase in value for any of the top 10 fleets with an additional $6.3 billion added during the year, reaching a total of $90 billion.

China has been responsible for much of the incremental demand in LNG consumption. It is not surprising to see companies based here see a significant increase in value in this market. Asset values surged in line with spot and term market returns, VesselsValue said.

Completing the list of the top 10 highest-valued fleets, are Singapore, Norway, USA, Germany, South Korea, UK and Denmark.