A new kind of liquefied natural gas carrier with a capacity between 30,000 and 90,000 cubic meters is helping the LNG industry to broaden its market. The so-called mid-sized tanker provides exporters with new outlets amid a global oversupply. The vessel can also sail through shallow rivers and access further inland markets, especially in India, China, and Southeast Asian countries.
The new type of tanker can also provide remote buyers with cleaner-burning fuel while offering a cheaper solution for end-users. Very large gas carriers can load an enormous volume of LNG, but they require larger, more sophisticated export and import facilities. With smaller ships, Asian buyers can use cheaper bare-bone infrastructure. Combined with floating storage regasification units, mid-sized tankers have allowed smaller players to enter the LNG market.
However, the number of mid-sized tankers with under 90,000 cubic meter capacity is relatively small at this time, comprising only 8.8% of the 601 global LNG vessels, data from the International Group of LNG Importers showed. This is despite rising interest from market participants for mid-sized tanker solutions.
