Report: Larger LNG carriers could cut transport costs without disrupting terminals

The analysis found 88 terminals worldwide are compatible with the vessel size.

Lloyd's Register (LR) has identified 200,000-cubic-metre liquefied natural gas (LNG) carriers as a credible next step for global LNG fleet renewal.

The findings, published in LR Advisory's terminal compatibility and commercial evaluation report for GTT, found that larger vessels could raise cargo capacity and cut transportation costs without major disruption to existing terminal infrastructure.

The analysis assessed representative 200,000-cubic-metre LNG carrier designs against global LNG infrastructure and modelled commercial performance across Atlantic and Pacific trading routes.

It found 88 LNG terminals worldwide to be compatible with 200,000-cubic-metre concepts, versus 97 for a conventional 174,000-cubic-metre vessel.

"Crucially, the accessible network still includes many of the world's major LNG trading hubs, indicating that larger vessels could be deployed across core trades with only a limited reduction in terminal reach," LR said.

Modern infrastructure across Asia-Pacific, Europe, North America, and the Middle East is generally well positioned to accommodate the larger vessels.

Cargo tank configuration has little influence on accessibility. "No material difference was identified between three-tank and four-tank concepts. Instead, vessel beam was found to be the most important factor in determining compatibility, alongside draft and displacement," LR said.

The findings come as LNG shipping faces pressure to improve transport efficiency, whilst preserving operational flexibility.

Larger vessels could let owners and charterers move more cargo per voyage, cut the number of sailings needed, and support future trade growth.

Despite the modest drop in terminal accessibility, the larger vessel could offer economic advantages through greater cargo capacity and efficiency.

LR's modelling points to a potential owner benefit of about $85.5m over 30 years, alongside material transport savings on representative routes.

Larger vessel concepts may become more relevant as LNG carriers run at lower average speeds and owners balance efficiency, fleet renewal, and long-term flexibility.

Constantinos Chaelis, Global Gas Segment Director at LR, said the findings show larger LNG carriers don't require a wholesale rethink of terminal infrastructure.

"Many key LNG hubs are already capable of supporting these vessel concepts, which gives the market a realistic pathway to improve transport efficiency, [whilst] maintaining broad trading optionality," Chaelis added.