The Covid-19 pandemic has brought new challenges for the global gas industry, with the LNG shipping market not being an exception. Because of the Covid-19 pandemic, the market witnessed a reduction in the global gas demand in 2020, which resulted in a slowdown of the global LNG trade and lower-than-expected demand for LNG carriers.

These developments, coupled with the commissioning of a large number of new carriers, led to the oversupply of LNG carriers in the shipping market.

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