The client, a European-based technical and commercial shipmanager which had traditionally focussed on dry bulk carriers, required a market overview and outlook report to assess the feasibility of expanding services into the mid-size LPG carrier and VLGC markets.
MSI created an overview of global supply and demand of LPG by region, including a detailed breakdown of production source and demand drivers by region.
We generated a breakdown of seaborne trade by ship size and routes, with particular focus on mid-size LPG carriers and VLGCs. This included an analysis of seaborne trade in LPG, including the major drivers and current trends which may impact developments moving forwards.
MSI performed a comprehensive review of current LPG carrier market structure, including historical port calls, vessel deployment, and major operators. This included details of the current and future supply-side disposition in the mid-size LPG carrier and VLGC markets. This included analysis of newbuild contracting, deliveries, deletions and overall fleet growth.
Details around the operation of vessels in these market segments was studied, including vessel sizing, vessel design speeds versus operational speeds, fuel consumption and carrying capacities.
A brief overview of developments in engine and fuel types within the LPG carrier markets was also included.
MSI provided a forecast for the supply/demand balance for 23+ k CuM LPG carriers by size segment, with accompanying forecasts for earnings, newbuilding and second-hand asset prices, and OPEX.
MSI prepared a market report which addressed all parts of the scope as described above. The final deliverable was provided in MS PowerPoint with supporting data and graphs in MS Excel.
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