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LNG carriers brace for wave of consolidation

Freight rates are plunging as a growing fleet clashes with tepid demand

Singapore

CARRIERS who ply the seas to deliver liquefied natural gas (LNG) in massive tankers are likely to face a wave of consolidation and asset sales, with freight rates plunging as a growing fleet clashes with tepid demand.

Companies that manage to weather the shakeout in one of the key sectors in the global shipping industry should be in a prime position, however, to benefit from a string of new LNG projects expected to start trickling online by the end of next year.

"I see more mergers and acquisitions,...

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