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Norwegian Bank to finance up to $4B LNG ship orders

Norwegian Bank to finance up to $4B LNG ship orders

The tripling cost of chartering LNG vessels to $110,000/day and the likes of Qatar and Peru offering new supplies indicate that the shipping sector could be an investment safe haven.


August 11, 2011 11:58 by

…other shipping sectors like dry bulk, leading the bank’s head of shipping to call LNG “a bright spot.”

Earlier this month dry bulk rates dropped to the lowest in more than three months after falling for 18 consecutive sessions. They have declined over 25 percent this year, while LNG rates have doubled.

“Dry bulk will be a pretty lousy market for the next 2-3 years,” he added. (Reporting by Oleg Vukmanovic; Editing by Anthony Barker)

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