Transformations in gas shipping: Market structure and efficiency

Steve Engelen*, Wout Dullaert

*Corresponding author for this work

Research output: Contribution to JournalArticleAcademicpeer-review

Abstract

This article aims to improve understanding of the gas shipping markets which, contrary to the main merchant markets- namely the dry, the tanker and the container markets- have not been subject to the same scrutiny. We examine the fundamentals and segment these versatile markets in which expanding gas production and the drive towards liberalization are affecting market conditions. The analysis shows that the industrial LNG, LPG, ammonia and petrochemical markets are slowly transforming to a competitive setting with an increasing number of private buyers and sellers rendering the market more efficient. The gas asset markets are still too small in size and illiquid so that entry and exit through the second-hand market remains difficult.

Original languageEnglish
Pages (from-to)295-325
Number of pages31
JournalMaritime Economics & Logistics
Volume12
Issue number3
DOIs
Publication statusPublished - Sep 2010

Keywords

  • ammonia
  • gas markets
  • LNG
  • LPG
  • market efficiency
  • petrochemical

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