Download - LPG Seaborne Transportation
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Global LPG
November 2017 1
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More = Less
110 %
60%6 million
40 million
2009 2019
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LPG Competitiveness
Increased Shale production USA
Increased LNG production brings more LPG
LPG Displacement by Ethane and LNG
Therefore LPG must incentivise increased consumption and open up new uses, eg
Power generation and Marine Fuel
“1000+” applications
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Dominant Components
Total LPG Production 320 million tonnes Highest ever level
5-year market growth 14% Twice as fast as crude oilgrowth
Top Consumer China 48 million tons
Top Importer China 19 million tons
Top consuming sector Domestic 44%
Top Producer USA 92 million tons
Top Exporter USA 40 million tons +
Seaborne Trade 112 million tonnes Up 50% in last five years
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Global Seaborne LPG Trade
Regional flows
2014 2015 2016 2017 2018
Middle East 51 48 44 44 39
USA 19 26 29 32 34
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Volume inmillion tons
Evolution yoy (in %)
2019 107 +7%
2018 100 +8%
2017 93 + 3%
2016 90 + 6%
2015 85 + 13%
2014 75 --
2019 107 +43%
2014 75 --
Total Seaborne
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Propane V Butane
USD 200
USD 250
USD 300
USD 350
USD 400
USD 450
USD 500
USD 550
USD 600
USD 650
USD 700
Propane & Butane CP
Propane FOB SAUDI CP Butane FOB SAUDI CP
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European Indexes (Platts, CIF, SH) Saudi CP AFEI Mount Belvieu
FOB USAMont Belvieuplus Terminal
Fee
Arbitrage – a Changing Dynamic
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LPG Shipping
LPG fleet 1’458 vessels
VLGC’s
5-year Fleet Growth 85 %
Current fleet 278
Vessels on order 36
Pressurized
5-year Fleet Growth 12%
Current fleet (<11k cbm) 704
Vessels on order 27
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VLGC 75’000 cbm +
LGC 60’000 cbm
Mid Size 35-38’000 cbm
Handy 22-28’000 cbm
Small Handy 12’000 cbm
Small below 11’000 cbm
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Gas Carrier Sectors
Firm
Firm
Firm
Stable/Soft
Soft
Stable
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SOx Global Sulphur Cap 0.5% (MARPOL)
LPG as Propulsion Fuel
Autonomous Development
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Hot Topics
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Emissions – IMO 2020
Global Sulphur Cap 0.5%
What is it ?
An IMO MARPOL Convention which states that effective 1st January 2020 the sulphur content of any fuel oil used on board vessels shall not exceed 0.5%
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LPG as Propulsion Fuel
Clean
Available
Affordable
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Autonomous Ships
Improved Efficiency
Increased Safety
Crew Reduction
Cyber Security
Degrees of Autonomy
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THANK YOU !
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Disclaimer
The information in this presentation was compiled from sourcesbelieved to be reliable for informational purposes only. Theinformation contained is intended solely for your personalreference. Such information is subject to change without notice,its accuracy is not guaranteed. Geogas makes no representationregarding, and assumes no responsibility or liability for, theaccuracy or completeness of, or any errors or omissions in, anyinformation contained herein..