Article

The global LNG carrier fleet is projected to reach its 1,000th vessel by June 2027, driven by a strong delivery schedule. Drewry forecasts a 9.6% fleet growth in 2025, with 89 new vessels expected, followed by 94 in 2026 and 92 in 2027.

A concentrated builder landscape exists, with five shipyards responsible for over two-thirds of all LNG carriers. Dominance of two-stroke dual-fuel designs among new builds is noted, reducing integration risks and competition.

LNG trade has grown for 11 consecutive years, reaching 555 bcm, with 270 bcm of liquefaction capacity approved for commissioning by 2030. Drewry estimates that 150 to 250 LNG carriers will be needed by 2030.

While a newbuilding wave is anticipated, suppliers must prepare for a service-heavy plateau post-2027, with increased scrapping of older vessels and tightening fleet age profiles expected. The market remains supportive of LNG investments, crucial for energy security and infrastructure development.