World’s Top 13 Gas Tanker Shipping Companies

118

 

Credit: William William/Unsplash

Liquid natural gas is moved around by gas shipping firms, sometimes known as LNG shipping businesses. Ships are the most economical, effective, and widespread means of transporting LNG. Since it can be difficult to access remote LNG plants and there may not be adequate transportation infrastructure, shipping is frequently the sole option for moving LNG. Specialized ships known as LNG ships have ports designed specifically to hold LNG. In order to keep LNG liquid, these temperature-controlled and highly insulated tanks are kept at temperatures below -162 C, as reported by Yahoo Finance.

LNG shipping industry

While there are hundreds of LNG ships globally, operated by some of the biggest oil and gas companies in the world, these ships can be mainly divided into three categories: fully pressurized, semi-pressurized and refrigerated, and fully refrigerated.

For LNG to be received, specific LNG import terminals are built which have the infrastructure to quickly load LNG from the ship into containers for storage and then to be distributed to the local grid.

While the LNG shipping industry isn’t just important but integral to most countries, the industry still faces a lot of challenges that need to be tackled to ensure consistent growth and improvement.

One of the biggest challenges the industry has faced in recent times is the suspension of gas supplies to various countries as a result of the Russian invasion of Ukraine and the subsequent sanctions imposed by Western nations.

Russia demanded that European countries pay for the gas in rubles, which the countries refused and hence the gas supply was cut off.

Biggest shipping companies

Because of the Russian war, the outlook of the LNG shipping industry is a bit uncertain, as analysts are unsure how long the war will last.

There is a high demand from Asia and Europe as well especially as Russia is no longer a viable supplier.

The biggest gas shipping companies in the world are also among the biggest oil and gas companies in the world with revenues often exceeding $100 billion and in one case, even exceeding $400 billion.

The total market is also more than $1 trillion combined.

With all data taken from Yahoo Finance, we used the market cap, revenue, profit/loss and assets of each company, assigning 30% weightage to the first three criteria and 10% weightage to the last one.

So, starting with number 13, let’s examine the organisations that support one of the most significant industries currently:

  1. Qatar Gas Transport Company

Total market cap of the company (in millions): $5,799

Total revenue of the company (in millions): $989

Total profit/loss of the company from continuing operations (in millions): $408

Total assets of the company (in millions): $8,875

  1. MISC Integrated

Total market cap of the company (in millions): $7,330

Total revenue of the company (in millions): $2,423

Total profit/loss of the company from continuing operations (in millions): $394

Total assets of the company (in millions): $13,062

  1. Mitsui O.S.K. Lines

Total market cap of the company (in millions): $8,650

Total revenue of the company (in millions): $9,294

Total profit/loss of the company from continuing operations (in millions): $5,189

Total assets of the company (in millions): $19,672

Mitsui O.S.K. Lines is one of the largest gas shipping companies in Japan. It was the first company in Asia to operate an ice-breaking LNG carrier, when it did so in 2018. This was done for the Yamal LNG project. In 2022, the company ordered 16 ocean-going LNG vessels.

  1. Gazprom Group

Total market cap of the company (in millions): $61,631

Total revenue of the company (in millions): $87,700

Total profit/loss of the company from continuing operations (in millions): $2,250

Total assets of the company (in millions): $324,000

Gazprom Group may be among the biggest gas shipping companies in the world but it may drop out soon thanks to sanctions from Western nations and Russia’s decision to cut off gas supply to many European countries.

  1. BP p.l.c. (NYSE: BP)

Total market cap of the company (in millions): $102,849

Total revenue of the company (in millions): $222,689

Total profit/loss of the company from continuing operations (in millions): $-10,964

Total assets of the company (in millions): $287,272

One of the largest oil and gas companies headquartered in the UK, BP p.l.c. (NYSE:BP) is infamous because of the Deepwater Horizon Oil Spill, the largest oil spill in history which cost BP p.l.c. (NYSE:BP) more than $65 billion in cleanup costs, fines and settlements. BP p.l.c. (NYSE:BP) owns a fleet technologically advanced and relatively fuel efficient tankers for the transportation of LNG with its partnership class vessels having a capacity of 173,400 cubic meters.

  1. Eni S.p.A. (NYSE: E)

Total market cap of the company (in millions): $52,687

Total revenue of the company (in millions): $134,373

Total profit/loss of the company from continuing operations (in millions): $17,644

Total assets of the company (in millions): $144,903

The biggest energy company in Italy, Eni S.p.A. (NYSE:E) has operations in nearly 70 countries while it is owned primarily by the Italian government. Eni S.p.A. (NYSE:E) uses its subsidiary LNG Shipping SpA, which it 100% owns, to transport and ship LNG while using two proprietary LNG tankers called LNG Lerici and LNG Portovenere with each ship boasting a capacity of 65,000 cubic meters.

  1. ConocoPhillips (NYSE: COP)

Total market cap of the company (in millions): $137,093

Total revenue of the company (in millions): $75,056

Total profit/loss of the company from continuing operations (in millions): $18,058

Total assets of the company (in millions): $90,661

One of the biggest gas shipping companies in the world, ConocoPhillips (NYSE:COP) is headquartered in Texas and has operations in 15 countries, with nearly half its production coming from the United States alone. ConocoPhillips (NYSE:COP) uses double-hulled vessels for its LNG transportation, which it has been engaged in for over half a century without any accident whatsoever. On land, ConocoPhillips (NYSE:COP) uses specially engineered and constructed double-walled storage containers for the storage of LNG.

  1. Equinor ASA (NYSE: EQNR)

Total market cap of the company (in millions): $112,387

Total revenue of the company (in millions): $147,288

Total profit/loss of the company from continuing operations (in millions): $24,219

Total assets of the company (in millions): $147,120

Equinor ASA (NYSE:EQNR) is one of the biggest oil and gas companies in Europe and the biggest company in Norway. Headquartered in Oslo, Equinor ASA (NYSE:EQNR) has operations in 36 countries, mostly within Europe. Equinor ASA (NYSE:EQNR) is engaged in more than 4,300 voyages across the sea annually, making use of more than 150 ships to transport not just LNG but crude oil as well.

Click to continue reading the Top 5 Gas Tanker Shipping Companies in the World.

Did you subscribe to our newsletter?

It’s free! Click here to subscribe!

Source: Yahoo Finance

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.