MARKETS Gas shipping has been one of the star performers in the maritime sector in recent years. But not every LPG tanker operator has been laughing all the way to the bank, as this review of recent financial results indicates
SHORTSEA Buffeted by economic winds and demand shifts, Europe’s chemical and gas tanker operators have had quite a time of it lately. The LPG tanker business is emerging more rapidly and in better shape than its chemical tanker counterpart
J Lauritzen A/S reports EBITDA of $65.0m for the first six months of 2012, slightly down on the $65.4m posted for the same period last year and in line with expectation.
FLEETS Some poor second quarter results from LPG shipping companies have failed to dampen spirits completely as owners can still see an upside going into the second half of the year
MARKETDespite an apparent recovery in trade, ship operators in Europe do not yet seem to be reaping any benefits. The length of the current downturn is now causing financial problems for some of them.
FLEETA more measured approach to managing the orderbook has helped the LPG sector avoid the worst of the recent downturn. However, operators cannot afford to be complacent and the need for self-restraint is still there
Figures compiled by the Bulletin and shipbroker EA Gibson show that 187 LPG tankers are currently on order at shipyards around the world for delivery within the next four years.
