Shipping

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
LNG Cargoes Continue Diverting Toward Europe

LNG Cargoes Continue Diverting Toward Europe

Liquefied natural gas (LNG) tankers previously en route to Asia are still diverting toward Europe as the western part of the continent continues to deal with reduced pipeline flows and low storage inventories that have supported high prices. After diverted LNG vessels made headlines last month, market research firm Kpler has continued to track 14…

January 7, 2022
LNG Tankers Diverting Mid-Voyage for Premiums in Europe, Where Prices Keep Setting Records

LNG Tankers Diverting Mid-Voyage for Premiums in Europe, Where Prices Keep Setting Records

Liquefied natural gas (LNG) tankers en route to Asia are abruptly being rerouted to Europe to take advantage of wide premiums as prices on the continent again soared to new records on Tuesday.  Analysts are watching nearly 10 vessels that have changed course as diversions have increased in recent days along with a rally in…

December 21, 2021
Panama Canal Congestion Easing as Europe Drawing More LNG Cargoes

Panama Canal Congestion Easing as Europe Drawing More LNG Cargoes

Shipping congestion that has slowed passage through the Panama Canal since last year amid strong demand for liquefied natural gas (LNG) and other goods between Asia and the United States has finally eased, after wait times peaked at 16 days for vessels with unreserved slots.  The historic cold that left Asian inventories depleted last winter…

December 16, 2021
Supply Outages, Weather Forecasts Keep Global Natural Gas Prices Strong — LNG Recap

Supply Outages, Weather Forecasts Keep Global Natural Gas Prices Strong — LNG Recap

Global natural gas prices remained strong Tuesday as benchmarks in Europe and the United States bounced back amid a colder forecast and supply shortages that are seen keeping the market tight.  Dutch and British futures finished the day slightly higher, with the front-month contracts both settling above $30/MMBtu. In the United States, the prompt Henry…

November 23, 2021
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