Qatar’s huge LNG shipping requirement is already unsettling a largely upbeat sector after the Middle East Gulf state unveiled the extent of its ambitions in the first quarter of this year.
Those following the business said there are rumours spinning around about the likely extent, type and timing of the upcoming orders, which are adding some uncertainty to the newbuilding picture where other project-related orders are expected.
Coupled with this, LNG players are aware that some of the ships that Qatar is seeking are needed to replace existing tonnage.
One consultant said this will likely result in at least 10 vessels built in the 1990s being released back to their owners and the global fleet.
After shipowners submit their replies next week, Qatargas is expected to move forward with shipyards. Insiders said yard meetings have been pencilled in for early September.
“They [Qatargas] need to get to the shipyards and block off the berth space,” one said.
This is Qatar’s second large-scale raid on the market for LNG carrier tonnage in 15 years, but this time the producer has doubled its shipping ambitions.
In 2004, shipowners were signed up to build 31 Q-Flex LNG carriers but Qatar apparently lost patience with this model and selected compatriot owner Nakilat to build and own 14 larger Q-Max LNG newbuildings.
