-- Global demand for liquefied natural gas carriers is rebounding sharply in 2026, despite the ongoing US-Iran conflict, Reuters reported Monday, citing analysts and industry experts.
Analysts report that surging LNG production and a transition toward high-efficiency vessels are fueling the recovery.
According to the report, Shipbuilders in South Korea and China have already secured 35 new build contracts in Q1 alone.
The resurgence in construction comes despite the escalating US-Iran war, which has choked the Strait of Hormuz and raised fears of a prolonged shipping downturn.
However, market experts suggest that the need for modern, fuel-efficient tonnage is outweighing immediate freight rate concerns, it said.
These new vessels, which cost between $250 million and $260 million and take over three years to complete, are increasingly necessary as older, steam-propelled tankers are scrapped at record rates to meet stricter global emissions regulations.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)