TOP 10 LNG shipping companies with LNG carriers

Liquefied natural gas (LNG) is natural gas that has been cooled to -260 °F (-162 °C), turning it into a liquid that is approximately 0.17% of its original volume. Natural gas is the most environmentally friendly combustion option among fossil fuels, which means that prioritizing its use globally can help reduce CO2 emissions and improve public health. The LNG process allows this valuable fuel to be safely and efficiently transported aboard purpose-built LNG vessels.

LNG transportation companies can look forward to another successful year where profits may peak.

During most of 2020, the LNG transportation market faced a downturn, as did many segments of the global gas industry due to the pandemic. LNG exports fell by 0.2% year-on-year, resulting in 5,682 shipments in 2020 driven by a decline in LNG demand during the Covid-19 pandemic. The commissioning of various LNG carriers worldwide exacerbated this trend. From 2019 to 2020, the market recorded an unprecedented commissioning of LNG tankers with 139 tankers entering service. Consequently, more than 600 LNG tankers were operating in the global market at the beginning of 2021.

CIMC ENRIC Product Page

As the world grapples with the drastic consequences of global warming, the demand for liquefied natural gas (LNG) continues to rise. LNG is the least polluting marine fuel and has a myriad of uses, offering a promising solution.

LNG is a reliable and sustainable fuel that can ensure global energy security while meeting international environmental standards.

The world's dependence on LNG emphasizes the critical role of LNG shipping companies in transporting this fuel from production hubs to consumption centers.

The global energy landscape is currently uncertain, and the conflict between Ukraine and Russia has resulted in a gas supply shortage in Europe.

However, experts forecast a significant 7.5% growth in the LNG fleet in the coming years. This increase will be driven by rising LNG demand worldwide and expanding production capacities.

By the end of 2021, the global LNG tanker fleet comprised 734 ships, including floating storage units.

In this article, we explore 12 major LNG shipping companies.

1. Nakilat

Founded in 2004, this Qatari shipping company specializes in energy transportation and possesses one of the largest LNG fleets in the world, consisting of 69 LNG carriers.

Through its subsidiary, Nakilat Shipping Qatar Limited, it operates a floating storage regasification unit, four VLGCs, and 24 LNG carriers.

Besides sea-borne transportation of LNG, Nakilat also operates a shipyard in Ras Laffan, providing vessel repair and fabrication services. Its diverse portfolio extends to towage and maritime solutions for all types of ships.

Nakilat shipped 883 LNG cargoes in 2021, totaling over 78 million MT of LNG, delivering to 41 countries across 97 ports.

2. MISC Berhad (Malaysia International Shipping Corporation)

MISC Berhad, a subsidiary of Petronas, is a notable shipping line in Malaysia with a significant presence in the LNG industry, boasting a fleet of 31 LNG carriers with an approximate capacity of 2.7 million m³.

These LNG ships are categorized into various classes, including Seri C, B, A, Tenaga, and Aman.

In 2021, the company welcomed its advanced ship, Seri Cenderawasih, with the largest LNG Carrier being Seri Bhakti, having a capacity of 452,319 m³.

MISC Berhad's LNG ships are compatible with over 100 LNG terminals and 45 export terminals worldwide.

3. NYK LNG Shipmanagement Ltd

Part of the renowned NYK Line, this company was established in 2004 and provides LNG ship management services, playing a vital role in the LNG transportation sector.

NYK LNG Shipmanagement operates LNG ships and offers expertise in LNG transport and cargo operations tailored to the needs of shipowners and clients.

Its teams are integral to ship operations, collaborating with ship owners for vessels managed directly by the company.

The company also provides crew management services, education, training for seafarers, and other technical services.

It manages 37 vessels directly and 26 vessels indirectly.

4. Chevron

This energy corporation, based in California, specializes in oil and gas, operating in over 180 nations. Chevron is active in hydrocarbon exploration, production, refining processes, shipping, marketing, and power generation.

One of its significant projects is the Angola LNG Project, the largest in Africa and the first LNG project in Angola, operated by Angola LNG Limited.

It is the first LNG plant in the world supplied with associated gas and supports offshore oil field development, with a processing capacity of 1.1 billion cubic feet of natural gas daily.

5. Maran Gas Maritime Inc.

This company provides comprehensive shipping services across the LNG market and aims to embrace the energy transition with sustainable solutions like zero-carbon ships.

With a fleet of 45 vessels, Maran Gas holds a total capacity of around 6.6 million m³ and has 13 ships under its orderbook. It is a subsidiary of the Angelicoussis Shipping Group.

Its fleet features many technologically advanced vessels, including the world's biggest LNG carriers, the Q-Max ships, with a carrying capacity of 266,000 m³. Recent additions to its fleet include the John A. Angelicoussis and Maran Gas Amorgos.

Maran Gas invests in new technologies to enhance operations and secure its position in the LNG shipping industry.

6. Shell Shipping & Maritime Technologies

Shell is a trusted name in the LNG industry, operating a substantial fleet of LNG carriers worldwide.

These carriers facilitate the transportation of LNG while Shell oversees the technical and commercial aspects of the ships, ensuring compliance with safety and efficiency standards.

Shell manages approximately 20 LNG carriers across three classes and operates the FSRU Prelude, the largest LNG carrier globally.

The M-Class twin-propulsion ships accommodate 174,000 cbm of LNG, while Nakilat's Q-Max and Q-Flex ships carry 266,000 cbm and 216,000 cbm of LNG, respectively. NWS Class carriers are associated with the Northwest Shelf Project in Australia, transporting 130,000 cbm of LNG to various Asian countries.

Shell has developed innovative LNG projects and infrastructure, including floating LNG units and LNG terminals.

7. BW LNG

BW LNG is a subsidiary of the BW Group, a maritime company founded in 1955, involved in shipping, oil and gas exploration, and sustainable technology investment. Their fleet exceeds 450 ships, including 200 LNG and LPG carriers.

BW LNG operates 34 LNG carriers and FSRUs within its fleet, supported by its team across seven offices. In 2021, the company achieved a 4% reduction in total carbon emissions and an 8% improvement in its Energy Efficiency Operational Indicator (EEOI).

The company acquired its first LNG ship in 2007 and has focused on enhancing operational efficiency within the LNG market through innovative engineering design, crew training, and technical management.

8. BP

BP is a prominent player in the LNG shipping sector, renowned for its LNG marketing and trading capabilities. It provides LNG solutions that deliver value and long-term profitability for its customers.

With a significant presence in Europe, BP is a major buyer and seller of liquefied natural gas in the Middle East and Asia, holding sales contracts in Korea, Taiwan, Singapore, and Australia.

As a key stakeholder in one of Azerbaijan's largest gas condensate fields, BP generates 25 billion m³ of gas annually for Europe and is advancing LNG projects in Mauritania and Senegal.

Its fleet comprises partnership-class vessels with a capacity of 173,400 cubic meters and Mariner-class LNG ships with a deadweight of 45,999 tonnes.

9. GasLog Ltd

Based in Monaco, GasLog has cemented its position as a leading LNG services provider since its establishment in 2001. The company boasts a fleet of 35 LNG carriers that transport LNG to diverse destinations.

GasLog London is its flagship LNG ship, alongside advanced vessels like GasLog Sydney and dual-fuel engine-driven Savannah.

Through its modern LNG fleet, GasLog is positioned to meet market demands and also manages a fleet of LPG carriers.

With 160 employees in its offices in Singapore, London, and Piraeus, and more than 1,500 seafarers working on its vessels, GasLog is well-equipped for the industry.

10. Dynagas

Founded in 2004 as an LNG maritime transportation company, Dynagas has a fleet of 18 LNG ships with an approximate total capacity of 3 million m³. The company provides ship management services while investing heavily to reach its sustainability goals.

Among its vessels, the Clean Copano, launched in 2017, boasts a capacity of 199,829 cubic meters.

In addition to traditional LNG shipping, Dynagas has specialized in ice, sub-zero, and rough weather conditions, leveraging its knowledge and experience in these challenging environments.

The company has invested in Ice Class 1A and winterised LNG ships, conducting extensive investigations in the process.

11. Mitsui O.S.K. Lines (MOL)

This multimodal transport group meets various transportation requirements with one of the largest merchant fleets globally, comprising 816 ships.

MOL also offers education and training programs for seafarers, ensuring safe and reliable delivery of energy products, including LNG and crude oil.

The company began its LNG sector expertise by acquiring its first LNG ship, Senshu Maru, in 1994. Since then, MOL has achieved numerous milestones. For example, in 2018, it became the first Asian maritime company to operate an icebreaking LNG ship for the Yamal LNG Project.

MOL manages around 70 LNG ships through six companies worldwide and owns LPG tankers. In 2019, it began operating the first very large ethane carrier.

12. Flex LNG

Incorporated in 2006, this company focuses on leveraging the growing LNG market.

Flex LNG manages 13 LNG carriers, all designed with two-stroke propulsion. Its fleet includes nine M-Type, electronically controlled Gas Injection (MEGI) LNG ships and four Generation X Dual Fuel ships built between 2017 and 2020, making it a comparatively modern fleet.

These LNG carriers offer enhanced fuel efficiency and reduced carbon footprint compared to four-stroke propelled vessels.

Flex LNG has fixed 11 ships on long-term fixed-rate charters and maintains a substantial contract backlog.

You might also like to read: