Existing LNG Tanker Owners Benefit as LNG Shipping Rates Fall
Owners of large LNG tankers, such as John Fredriksen, are benefitting as the rates for using their ships falls.
The reason? Fewer new vessels are being ordered as people are worried at oversaturated market and the falling profits.
Existing companies are still recording record profits, but any companies thinking of entering the market have been scared off for the time being.
Lowering the cost of fuel with natural gas benefits all of us. It allows cleaner air, and lower prices at every step in the manufacturing and transportation process. It is even used as a raw material.
Depending on its source, NatGas can release a fair amount of radioactive radon gas. It also still releases a large amount of CO2 if you are concerned about climate change.
I would go further and say that a carbon fuel like LNG generates its energy (assuming perfect combustion) principally from the carbon-oxygen bonds formed by the production of carbon dioxide, and then to a lesser extent from hydrogen-oxygen bonds producing water in the form of steam. So LNG is not a clean fuel, it's a fossil-carbon fuel that is just a bit less dirty than oil, which is less dirty than coal.
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