One of the features of the past two years has been a remarkable spate of ordering of very large LPG carriers, or VLGCs (i.e. units of 70,000cbm & above). Unless major slippage ensues in new ship deliveries from reported schedules, fleet additions in this sector are set to soar to new record levels. From 13 vessels last year (the highest annual figure since 2008), VLGC deliveries could total 33 vessels in 2015 and 47 in 2016. This compares with an average of barely 5 ships per year in 1980-2013 inclusive.
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