Gas Daily: LNG Shipping Faces Long Period of Oversupply

27 Aug 2015: “Jason Feer, head of business intelligence at energy and shipping consultancy Poten & Partners agreed that it would take time for the sector to recover. “‘It has taken a number of years to get to this positon of oversupply, and it will take years years for this situation to change, ‘ he said. “He suggested that market developments could improve the outlook for this sector. ‘There are some things that could happen to change this – one thing is the the development of floating regasification projects,’ Feer said. …”The shipping sector is reflecting developments in the wider LNG industry, with the introduction of more short-term contracts and reliance on spot cargoes. This, combined with fewer contracts with destination clauses, will see much greater flexibility in the market, according to Feer”