2 Major Reasons Why Natural Gas Could Save Shippinghttp://www.fool.com/investing/general/2012/12/28/2-major-reasons-why-natural-gas-could-save-shippin.aspx Jonathan Yates
December 28, 2012
Rising natural gas production in the United States could be the life preserver that the floundering global shipping industry needs. Due to the Great Recession, shippers are suffering from declining demand, falling charter rates, and higher prices for fuel oil. Here are two reasons why the fracking that is leading to greater natural gas production in the United States could save fleets around the globe from going under.
Increasing demand for shipping
As part of this trade, for the first time, a tanker carrying liquefied natural gas is traversing the Arctic in a route from Norway to Japan. There will also be a greater demand for imported natural gas to produce electricity in Japan and Germany due to each country's commitment to do away with nuclear power.
A boost for the global economy