Shipping

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…

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…

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…

The rates to charter vessels for spot liquefied natural gas (LNG) shipments hit records this week amid renewed demand from buyers in Asia and the strong prices that are attracting U.S. cargoes and tying up ships for longer journeys.  According to Spark Commodities, LNG tanker rates in the Pacific Basin were assessed earlier this week…

Renewable energy is likely to generate more marine fuels in the future, and natural gas will  factor heavily into the mix, according to SEA-LNG COO Stephen Cadden. Cadden’s organization advocates for the use of liquefied natural gas (LNG) as a marine fuel. SEA-LNG promotes the economic and environmental benefits of LNG. The organization was founded…

The Panama Canal Authority said a record amount of tonnage passed through the waterway during fiscal year (FY) 2021, a milestone driven in large part by liquefied natural gas (LNG) cargoes, which saw the largest increase. “LNG is not only growing the fastest, but it has had its best year in terms of tonnage through…

Gunvor Group Ltd. has agreed to employ four newbuild liquefied natural gas (LNG) carriers as the trading house looks to cut emissions tied to its operations.  Subsidiary Clearlake Shipping is securing long-term time charters with Monaco-based shipowner Celsius Tankers. Celsius expects to take delivery of the new vessels from Samsung Heavy Industries Co. Ltd. (SHI)…

Friday kicked off the heating season across the Northern Hemisphere and liquefied natural gas (LNG) freight rates also started their annual ascent.  This year could be different. Europe and Asia are locked in a fierce battle for cargoes as inventories remain low and prices have hit new records with benchmarks soaring above $30/MMBtu in both…

Suppliers of liquefied natural gas (LNG) are under increasing pressure to lower the carbon footprints of their cargoes. But the question of who pays for the costs of decarbonization is a tricky one, Poten & Partners analysts said Wednesday. With more LNG supply expected to come online by the middle of the decade, sellers are…