With fresh LNG-carrier orders thin on the ground this year, many of the world’s shipyards have had to rely even more than usual on lifecycle maintenance (LCM) contracts and repairs to generate fresh gas-ship business.
To find out what level of business specialist LCM shipyards can expect in the coming months, LNG World Shipping commissioned VesselsValue to analyse how many LNG carriers are due for special survey in the next 12 and 24 months.
VesselsValue’s figures reveal 71 LNG carriers with a total capacity of more than 11M mᶾ due for special survey in the coming year – worth a total US$7.5M. And 2019 will be an even more lucrative year for specialist repair and maintenance yards, with 104 vessels due for special survey, with a combined capacity of 16M mᶾ.
Leading the pack is the Nakilat fleet – both wholly and jointly owned. VesselsValue’s research suggests that eight JC Nakilat ships and six Qatar Gas Transport Co ships will head for special survey in the coming year. And 12 more will head into drydock the year after.
Malaysia-based MISC is due to put three ships into drydock in the coming year and seven in 2019, our research shows. Other owners keeping the shipyards busy in 2019 include Sovcomflot, Sinokor, Golar LNG and Maran Nakilat, each with four LNG carriers due to undergo special surveys.
Qatar-based N-KOM will be the clear winner, as Nakilat puts a third of its fleet into drydock in the next two years.
The emirate’s diplomatic row with neighbouring Saudi Arabia, Egypt, Bahrain and the UAE has pushed self-sufficiency up the Qatari agenda. All the Nakilat ships will be repaired at home. N-KOM is already on course to be the top LNG LCM shipyard of 2017, having completed 16 repairs and works by September this year.
Traditionally, LNG carrier lifecycle repairs and maintenance has been a two-horse race, between the Singapore-based shipyards Sembcorp Marine and Keppel Shipyard.
But in the next 12 and 24 months, the flurry of Nakilat contracts ensures that N-KOM will give the Singapore giants a run for their money….