Shipping

Flex LNG Expects Cold to Drain Europe’s Natural Gas Storage, Sustain High Vessel Rates

Flex LNG Expects Cold to Drain Europe’s Natural Gas Storage, Sustain High Vessel Rates

Flex LNG Ltd. expects the market for LNG vessels to remain tight and charter rates to stay lofty for the next several years, especially if Europe faces a chilly winter this year, continuing the shipping firm’s streak of record revenues. Headed into next year, CEO Øystein Kalleklev said Europe is expected to maintain a strong…

November 16, 2022
Increase in Suez Canal Transit Fees Unlikely to Impact LNG Trade Flows

Increase in Suez Canal Transit Fees Unlikely to Impact LNG Trade Flows

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…

September 22, 2022
Asian Spot Prices Decline, LNG Shipping Rates Soften in Mixed Week for Global LNG Market

Asian Spot Prices Decline, LNG Shipping Rates Soften in Mixed Week for Global LNG Market

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.

July 22, 2022
New Fortress Spins-Off Midstream Assets in Bid for LNG Infrastructure Capital

New Fortress Spins-Off Midstream Assets in Bid for LNG Infrastructure Capital

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…

July 6, 2022
LNG Freight Rates Surging on ‘Unusually Early Rush’ for Vessels Before Winter

LNG Freight Rates Surging on ‘Unusually Early Rush’ for Vessels Before Winter

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…

June 10, 2022
Asia Spot LNG Prices Drop, Prompt Shipping Rates Rise

Asia Spot LNG Prices Drop, Prompt Shipping Rates Rise

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…

May 20, 2022
Easter Break, Warmer Temperatures Heighten Global Natural Gas Price Volatility

Easter Break, Warmer Temperatures Heighten Global Natural Gas Price Volatility

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.

April 22, 2022
Flex LNG Prepared for a Solid 2022 Despite an ‘Ice Cold’ Start to the Year

Flex LNG Prepared for a Solid 2022 Despite an ‘Ice Cold’ Start to the Year

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…

February 23, 2022
Freight Rates Dip Below Zero as More U.S. Ships Move to Europe – LNG Recap

Freight Rates Dip Below Zero as More U.S. Ships Move to Europe – LNG Recap

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…

February 8, 2022
GasLog Sees Strong LNG Demand Outlook in 2022 on European Restocking

GasLog Sees Strong LNG Demand Outlook in 2022 on European Restocking

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…

February 2, 2022
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