LNG

Mitsui OSK Lines, The Japanese shipping company with an operating fleet of almost 100 liquefied natural gas carriers, has held a virtual naming ceremony for the latest newbuild to be chartered to Gas Authority of India (GAIL), the leading LNG importer.

The liquefied natural gas shipping sector has seen its largest number of orders since 2014 as traditional and new entrants sign contracts with South Korean, Japanese and Chinese shipyards for vessels to handle the LNG production surge, while the impact has been felt in average annual charter rates.