Very Large Gas Carrier Market - Global Industry Analysis, Size, Share, Trends, Growth and Forecast 2014 – 2020

Transparency Market Research Reports incorporated a definite business overview and investigation inclines on “Very Large Gas Carrier Market”. This report likewise incorporates more illumination about fundamental review of the business including definitions, requisitions and worldwide business sector industry structure. Increasing LPG exports from the U.S. due to rising production of shale gas has resulted in increasing demand for very large gas carriers (VLGC). These gas carriers are used for transporting LPG and have a capacity of approximately 82,000 cubic meters. With the increasing demand of LPG from developing economies the demand for large carriers is also increasing to optimize the logistics cost and increase profitability margins. The enlarged Panama Canal is projected to open in late 2016; this would decrease the transit route between North America and Asia Pacific region. The trade between the U.S and Asia Pacific region is anticipated to increase at a rapid pace owing to the decrease in transportation costs. High LPG prices in the Middle East restrained Asian consumers to buy LPG from this market leading to increased demand from the U.S. market. The U.S shale gas revolution is the primary game changer for the increasing demand for very large gas carriers. Freight rates of VLGC’s are expected to increase at a rapid rate owing to the opening of the enlarged Panama Canal.

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The increasing demand for LPG especially in the Asia Pacific region is the primary driver bolstering the demand for very large gas carriers. The energy hungry countries such as Japan, China and India are the major centers for LPG imports. The widening of the Panama Canal in North America would further enhance the demand for these large carriers. Taking into account the route between North America and Far East, the widening of the Panama Canal will reduce the cost of...