The oversupply in the LNG carrier market is likely to continue for up to five more years and the industry is heading for a major restructuring in the form of mergers, acquisitions and more strategic joint ventures, says a leading industry executive.

More serious financial consequences from the supply-demand imbalance in the LNG shipping industry is only being avoided because the current practice of storing cargoes on carriers has removed most of the industry’s over-capacity in the short term.

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