The LPG tanker fleet is expected to grow 4.8% next year, responding to rebounding demand for the product in Asia, Norwegian financial services group DNB said in a recent report.

Rates to ship liquefied natural gas slid to the lowest in 19 months and will fall further as the end of winter fuel demand results in fewer bookings, according to Fearnley Securities AS.

Main focus on tankers and MR sized product carriers in particular. Leading builder Hyundai Mipo announced a contract for further 10 units at a total price in the region of usd 305/310 million. Hyundai Heavy said to be in final negotiations for initially two Aframax tankers for account of Kyklades Maritime subject to a time charter agreement with Total.

STX is reported to have secured a substantial order from Teekay for potentially upto 16 Aframax size tankers if all options declared. Furthermore Owners have option to convert vessels into LR-2 type. STX Dalian on their part added four Capesize bulkers to their orderbook as Frontline 2012 declared their options. Another Fredriksen related company, Golden Ocean, went to JMU for two 60,000 dwt bulkers. Interesting to note Japanese owners went to Hantong, China, for similar type of vessels.

Record U.S. exports of liquefied petroleum gas are spurring StealthGas to redeploy tankers as far as 13,500 miles to take advantage of one of the few capacity shortages in global shipping. The owner with the most LPG carriers will have 25 pct of its fleet in the Americas by December, from about 15 percent now, CEO Harry Vafias said in an interview.

K Line announced that an agreement is to be made with Chubu Electric Power Co., Inc., on long-term Time Charter of a new 164,700m3 Moss type LNG carrier and execute Shipbuilding Contract for it with Kawasaki Heavy Industries, Ltd. (KHI).