This major new Report provides invaluable independent analysis on the future development prospects for all aspects of the LPG sector. It represents the most up-todate and comprehensive examination of the LPG shipping industry, and is essential reading for all parties with an interest in this sector.

The LPG sector has seen considerable development in recent years, leading to a current high level of market uncertainty over the real future prospects :

LPG consumption has increased by an estimated 15% since 2000, with continued growth in demand world-wide, with particular expansion in the Chinese and Indian markets. At the same time, seaborne LPG trades have expanded by 29% since 2000.

The LPG vessel fleet has expanded by over 19% during this time frame – this increase has been buoyed by the forecast growth in demand for LPG and rising freight rates.

After large-scale rate escalation in 2004-05, freight rates increased further in 2006, to some of the highest levels recorded since the early 1990s.

The expansion of the fleet is forecast to take on a new dimension in the near future, as a large number of vessels currently under construction are delivered.The current orderbook stands at 48% of fleet capacity.

The future of LPG demand is still in the balance. US demand has slowed, as has Japanese and South Korean demand. This is in parallel with increasing LNG imports in these markets. Chinese and Indian LPG imports might also be affected in the future by increased imports of LNG.

Large-scale fleet expansion will more than compensate for the obsolescence of a significant volume of old vessels. The impact of so many new vessels could have dramatic and significant implications on the LPG shipping market.

This detailed Report examines the outlook for all aspects of the LPG carrier market throughout the period to 2018, through in-depth analysis of recent/current developments and extensive future forecasts. Included in the Report are detailed analyses and forecasts in the areas of:

Trade volumes and patterns;

Fleet development (incl. newbuilding and scrapping);

Vessel operating costs;

Vessel freight rates;

Vessel demand and supply;

Vessel profitability.

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