LIQUEFIED NATURAL GAS (LNG) ship owners enjoyed a buoyant time during 2011 and 2012 amid a global surge in the demand, increasing tonne-mile demand and almost stagnant fleet growth. Global liquefaction capacity had started to ramp up in 2009, and by mid-2012 the market started to firm. Then came the earthquake and tsunami in Japan in March 2011 that triggered the Fukushima nuclear plant meltdowns and led the country to shut down its nuclear plants for safety checks.
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