Greece tops fleet value chart as LNG orders fly in

Greece tops fleet value chart as LNG orders fly in
Illustration purposes only (Image courtesy of Maran Gas Maritime)

Growth in liquefied natural gas tanker orders from the Greek shipowners has put the country top of the list in terms of fleet value that has topped $100 billion in 2018. 

The Greek fleet has increased its total value by over $5 billion in one year, according to the data provider VesselsValue.

The increased fortune comes from growth in LNG ordering and a tanker value uptick. Greece has moved into pole position as owning the highest valued LNG fleet in the world, up from $13 billion at the start of 2018 to $18.4 billion.

This puts Greek owners ahead of Japan, whose fleet comes in second at $15.2 billion.

China has seen the largest increase in value for any of the top 10 fleets with an additional $6.3 billion added during the year, reaching a total of $90 billion.

China has been responsible for much of the incremental demand in LNG consumption. It is not surprising to see companies based here see a significant increase in value in this market. Asset values surged in line with spot and term market returns, VesselsValue said.

Completing the list of the top 10 highest-valued fleets, are Singapore, Norway, USA, Germany, South Korea, UK and Denmark.

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