Shipping

Egypt’s Suez Canal Authority (SCA) is increasing transit tolls next year, adding to the costs associated with shipping LNG and other fuels through the key trade route. Fees will increase by 15% for tankers carrying oil and petroleum products, and by 10% for dry bulk carriers and cruise ships. “I don’t expect the Suez canal…

HOUSTON (ICIS) – Asia spot LNG prices have fallen this week, with the September ’22 ICIS East Asia Index (EAX) down more than 9% on 21 July from one week ago. The EAX has declined in recent days after peaking above $40/MMBtu.

New Fortress Energy Inc. has announced plans to spin-off the majority of its midstream liquefied natural gas business (LNG) into a new joint venture with Apollo Global Management Inc. as it focuses on its own Fast LNG infrastructure. New York-based NFE disclosed its plans to sell 11 LNG assets to the new joint venture in…

Rates to secure vessels for liquefied natural gas (LNG) deliveries are at multi-year highs, climbing months in advance of the typical period when charterers move more aggressively to lock in ships ahead of winter demand. The trend is particularly noticeable in the Atlantic Basin, where stronger-than-normal demand in Europe is helping support rates.  “Strong demand…

HOUSTON (ICIS) — Asian LNG spot prices have fallen this week, with the July ICIS East Asia Index (EAX) down more than 12% on 19 May from one week ago. The softness in prices, compared with levels seen just a month ago, could attract additional buyers into the market. New demand will be weather dependent…

LONDON (ICIS) –The long Easter break heightened the market’s volatility, with European gas prices crashing at the close on 14 April, only to firm on the market’s return on 19 April, supported by lower pipeline supply due to outages.

Major shippers of liquefied natural gas (LNG) have been expecting the market to grow tighter as demand outpaces production growth, but geopolitical tensions are requiring transporters to stay on their toes, according to Flex LNG Ltd. Flex management reported last week that the fluctuating market dynamics worked out in its favor last year, with significant…

Spark Commodities reported its first ever negative spot liquefied natural gas (LNG) freight rate on Tuesday as a glut of tankers in the Atlantic Basin that are moving cargoes faster to Europe has dragged down rates. Spark assessed Atlantic Basin rates at minus $750/day, reflecting what CEO Tim Mendelssohn said is an increase in vessel…

A European Commission (EC) proposal  to include natural gas and nuclear power in the “green taxonomy” would yield benefits from environmental and energy security perspectives, according to the head of global liquefied natural gas (LNG) shipper GasLog Partners LP. “This would accomplish the goal of reducing emissions from the generation of electricity while also securing…