Calvey Marine’s New LNG Division

Posted on
27th November 2023 2 min read

Demand for building new LNG (Liquified Natural Gas) vessels is looking very strong for the next 5 years, which we anticipate will result in a shortage of dock space as the vessels reach their 1st special survey. Many LNG owners are now considering expanding their choice of preferred yards, as facilities and experience of LNG vessels grows.

In 2023, Calvey Marine Directors visited their Principals’ shipyards globally to examine worldwide LNG capabilities. Their goal was to return with a carefully selected collection of the world’s most capable, experienced and technologically advanced shipyards in strategic locations to best support their UK based ship owners and managers’ LNG vessels. We are now proud to introduce the LNG division of Calvey Marine Limited, focusing on our Principals; Lisnave Shipyard (Setubal), Drydocks World Dubai, and Yiu Lian Shekou.

The shipping Industry is constantly evolving to meet market demands, and environmental considerations. If a company is to perform well under these changing conditions, it is important that shipyards evolve to meet client requirements.

2022 was a historic newbuilding year for LNG shipping, according to leading maritime research firms, with some 122 ships ordered in 2022, with more orders in the pipeline. The LNG large vessel fleet is currently around 720 vessels, each representing a major investment at around $260 million dollars each and there are currently a further 300 vessels in total on order. The forecast by GTT is that the fleet number will be around 1,130 vessels by 2033 and this will require 450 new vessels to meet the expected demand in the next decade. A pillar of this newbuilding surge has been the completion of the first phase of Qatar’s massive 151-ship LNG fleet renewal programme.

The underlying trend is a clear indication to our shipyards that any investment in LNG capabilities and expertise will be monies well spent.

Anticipating this growth, Calvey Marine have been working with shipyards that are investing in research and developing their facilities accordingly. As the LNG market grows to be a major influence in the maritime industry, we have been identifying and carefully selecting those of our Principal shipyards that can best support our LNG Clients’ requirements using their specific facilities, expertise and knowledge to provide the very best worldwide services and facilities for repairs.

“We are proud to be working with Lisnave Estaleiros Navais S.A. Shipyard (Setubal), Drydocks World – Dubai World Dubai, and YiuLian Shekou and confident this focus will increase support to our valued Clients.”

Jessica Black, Business Development Director

Interested? Get in touch with our Managing Director, Steven Black:

Lisnave Shipyard