Japan remains top LNG tanker owner

Japan owns the world’s most valuable and largest fleet of LNG carriers, and the nation is followed by Greece and China, according to the newest data by Veson Nautical’s VesselsValue.

The value of the Japanese LNG fleet stands at $40.9 billion as of January 2025, VesselsValue said on Wednesday

Also, the value of the Japanese LNG fleet rose from $37.8 billion since VesselsValue’s last report in February 2024.

Out of the top shipowning nations, Japan also owns the largest fleets both in terms of value and size for LPG vessels, reefers, and vehicle carriers, which are valued at $15.1 billion, $1.3 billion, and 24.8 billion, respectively.

Jaan’s MOL and NYK both have huge LNG fleets.

Greek LNG fleet, which was first in 2021, has a value of $32.4 billion, while China’s LNG fleet is worth $26.9 billion, according to VesselsValue.

VesselsValue said Greece remains the owner of the second-largest LNG fleet, with 143 vessels.

The value of this fleet has risen by just over $1 billion from last year as values for this sector have remained at elevated levels over the last few years, driven by a surge in demand, it said.

VesselsValue Japan remains top LNG tanker owner

China leads

Whilst China retains the top spot in terms of vessels numbers, it has also taken the lead for the most valuable fleet, overtaking Japan and amounting to $255 billion, VesselsValue said.

The fact that China owns the most valuable bulker and container fleets at $68.4 billion and 63.5 billion respectively, has contributed to their leading status, particularly as values for both sectors have firmed over the last year.  

VesselsValues said this is due to improving market fundamentals which have come about as a result of the crisis in the Red Sea, increasing tonne-mile demand for most sectors as vessels reroute around the Cape of Good Hope to avoid hostilities.

Most Popular

Venture Global’s Plaquemines LNG to commission fourth tank

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the fourth storage tank with LNG at its Plaquemines plant in Louisiana.

Worley gets full notice to proceed on first phase of CP2 LNG project

Australian engineering firm Worley has received a full notice to proceed from US LNG exporter Venture Global LNG under its reimbursable EPC contract for the first phase of the CP2 LNG project in Louisiana.

US FERC issues final SEIS for NextDecade’s Rio Grande LNG project

The US Federal Energy Regulatory Commission (FERC) has released a final supplemental environmental impact statement for NextDecade's Rio Grande LNG facility and the accompanying pipeline in Texas. FERC continues to conclude that approval of the projects would result in "less than significant impacts."

More News Like This

MOL’s LNG carrier fleet stands at 104 vessels

MOL's large fleet of liquefied natural gas (LNG) tankers had 104 vessels as of the end of June this year.

MOL, Equinor name LNG-powered VLCC

Japan's shipping giant MOL has named an LNG dual-fuel very large crude carrier which will serve Norway's Equinor under a charter deal.

DNV approves LNG-powered LCO2 carrier

Classification society DNV has awarded a general approval for ship application certificate to Japan's MOL, Malaysia's MISC and Petronas CCS Ventures, and China's SDARI for their jointly-developed LNG-powered liquid carbon dioxide (LCO2) carrier design.

HD Hyundai Heavy kicks off work on Gdansk FSRU

South Korean shipbuilder HD Hyundai Heavy Industries has officially started building MOL's floating storage and regasification unit (FSRU), which will serve Gaz-System's Gdansk LNG project in Poland.