Congested Markets Pose Risks for LNG Carriers

LNG carriers are facing significant challenges in congested markets, particularly in the Gulf region, where prolonged waiting periods and reduced-speed operations have become more common. As a result, these vessels are experiencing increased technical and commercial risks due to the continuous generation of boil-off gas (BOG), which can accumulate during extended standby or low-power conditions.

Normally, BOG is consumed as fuel or managed within established operational parameters. However, when vessels are forced to wait offshore or operate at reduced speeds, their ability to utilise BOG efficiently may be compromised, leading to the need for alternative management measures such as increased reliquefaction duty or controlled combustion.

The issue is further complicated by charterparty wording that often assumes 'normal' trading conditions rather than prolonged harbour-mode operations. This can lead to disputes over who caused the delay and how the resulting BOG should be calculated.