The LNG shipping market is facing a downturn, with owners scrapping older vessels at a faster pace while nearly 60 LNG carriers remain idle, according to data from Clarksons Research.
In the past week alone, four steam-powered LNG carriers were sold for demolition by two South Korean owners. The ships include Hyundai Aquapia and Hyundai Technopia, both built around the year 2000 with a capacity of 135,000 cubic meters. These were sold together for about $565 per light displacement ton, bringing in roughly $19.2 million each.
Another two LNG carriers, HL Ras Laffan and HL Sur, also built in 2000, were sold by Hyundai LNG Shipping under similar terms. All four ships are now being sent to South Asia for dismantling.
This brings the total to seven LNG ships scrapped so far in 2025, with a combined capacity of about 830,000 cubic meters, almost equal to the full-year total of eight
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