As recently as the Gastech conference in November 1978 Mr Tuisani of Poten & Partners was able to remark that the outlook for the LPG industry remained uncertain."...there is one simple reason: lack of supply...every ton of LPG produced to date has found a buyer. With a few minor exceptions, product has not been flared. The volume of international LPG trade has been determined entirely by available supply. This trade has not grown because new plants have not come on stream as originally planned". The failure of LPG supplies to reach predicted levels at the end of the 1970s, coupled with substantial deliveries of new LPG shipping tonnage, brought about a considerable depression in the shipping industry. Charter rates sank to unprofitable levels, and vessels changed hands at distress prices. However, at the beginning of 1979 the situation began to change rapidly. Charter rates rose and by the end of the year laid up tonnage had virtually disappeared. Second hand vessel values rose substantially during the period. Some of the more important LPG Projects are outlined and cover Abu Dhabi, Algeria, Iran, Kuwait, Qatar, Saudi Arabia, and Venezuela. Included is a review of the demand and Markets for LPG in the USA, Japan and Western Europe with tables showing imports from 1976 to December 1979. A list of existing LPG tankers and new construction is provided.

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  • Corporate Authors:

    Lloyd's of London Press Limited

    Sheepen Road
    Colchester, Essex CO3 3LP,   England 
  • Publication Date: 1980-3

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Filing Info

  • Accession Number: 00312198
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Jun 26 1980 12:00AM