Both Flex LNG (FLNG) and Capital Clean Energy (CCEC) reported their Q4 2024 results this past week. FLNG has about 10% spot exposure in 2025, which might make 2025 more challenging as the year progresses. The company has a vessel rolling off charter in Q1 2025, and trades in the spot market for the remainder of 2025. CCEC has no vessels with spot exposure (but much higher gearing on newer, more expensive vessels)
The current LNG shipping market, in a word - Yucky! (regardless of vessel efficiency)
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What is a two stroke? Burns LNG? Trifuel diesel electric is probably traditional heavy diesel oil. What are the other fuels?
With Europe buying LNG to replace ng pipelines from Russia, shouldn’t LNG ships be in demand? Article says too much construction creates surplus.
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For the LNG tanker, yes. The two-stroke engine can use LNG as one of its fuels. Generally, it is the primary fuel with another heavier fuel as an alternate, or back-up. CoolCo (CLCO) are working to upgrade some of their TFDE LNG tankers to utilize the evaporating LNG into the propulsion system.
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With Europe buying LNG to replace ng pipelines from Russia, shouldn’t LNG ships be in demand? Article says too much construction creates surplus.
LNG market has ebbs and flows. Q3 is more storage in preparation for late fall and winter. Q4 is both usage and continued storage, Q1 is more usage than storage, and the warmer months - well, its warmer. LNG projects have fallen behind significantly. For the LNG tanker market, an additional issue is the overhang of the older inefficient tanker generation.