The LNG shipping market is facing a downturn, with owners scrapping older vessels at a faster pace while nearly 60 LNG carriers remain idle, according to data from Clarksons Research.
In the past week alone, four steam-powered LNG carriers were sold for demolition by two South Korean owners. The ships include Hyundai Aquapia and Hyundai Technopia, both built around the year 2000 with a capacity of 135,000 cubic meters. These were sold together for about $565...