November 14, 2017
Global LNG exports have continued to increase strongly this past quarter, and more than 80% of the increase in LNG supply has ended up in Asia. China’s LNG imports have increased almost 45% so far this year as China shifts millions of homes from coal to natural gas heating. This increase in LNG trade has supported the LNG shipping market, and spot charter rates are currently at their highest point in almost 3 years (since January 2015). In addition, several new LNG export projects are starting in Q4 2017 and 2018, which should lead to another strong year of LNG export growth in 2018 . Therefore, while some volatility in rates will remain, we expect the LNG shipping market will remain on an upward trend.
Forward looking statements:
This video contains forward-looking statements which reflect the company’s current views with respect to certain future events and performance, including statements regarding: LNG market fundamentals, including the balance of supply and demand in the LNG market, and spot LNG charter rates. The following factors are among those that could cause actual results to differ materially from the forward-looking statements, which involve risks and uncertainties, and that should be considered in evaluating any such statement: changes in production of LNG or LPG, either generally or in particular regions; development of LNG and LPG projects; changes in applicable industry laws and regulations and the timing of implementation of new laws and regulations; and other factors discussed in Teekay LNG Partners’ filings from time to time with the SEC, including its Report on Form 20-F/A for the fiscal year ended December 31, 2016. The Partnership expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Partnership’s expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.