The Twentiad: Three Generations of Twenty-Sized Liquefied Gas Carriers

Why were 20,000 cubic meter gas carriers—the 'Twenties'—built in the first place? And why are they still built today?Over six decades, the Twenties have occupied a unique and often misunderstood position in the liquefied gas market. For the early gas shipowners, contrasting trade patterns of LPG, ammonia, and petrochemical gases promised full employment with a layer of high-value cargoes, giving birth to a Petrochemical Dream.As deep-sea trade evolved, this was projected onto the Twenties as the largest ships suitable for petrochemical gases. But how well has the dream held up?This book examines the gap between expectation and reality. By analysing production, consumption, and the stop-start trade in petrochemical gases—and by examining the rationale behind individual ship orders, whether by single owners or in waves of similar investments—it shows why extended periods of weak earnings have been common.But as fortune favours the bold, profitability has not depended on steady market development alone. Unexpected pockets of niche demand can generate superior earnings. And while external shocks—political disruption, natural events, and other unforeseen forces—can have negative impacts, they can also reshape trade flows and create sudden opportunity.Highly flexible in terms of both containment systems and the range of cargoes which they are commercially suited to carry, the Twenties remain central to the industry. Understanding their role is key to understanding the liquefied gas sector as a whole.This book is essential reading for shipowners, charterers, shipbrokers, analysts, and anyone seeking a deeper understanding of the gas shipping market. Read more