Shipping

LNG cargoes in floating storage are stacking up to near-record levels once again ahead of the heating season as the spot market becomes a more crucial part of the early winter cycle. As natural gas marketers jockeyed for the highest price and ships congregated around congested import terminals last November, the volume of liquefied natural…

QatarEnergy has placed another large order for new LNG vessels as it continues to build out its shipping fleet ahead of a massive expansion in its liquefaction capacity that’s expected to come online later this decade. The state-owned company said Wednesday it has signed a deal worth $3.9 billion to have South Korea’s HD Hyundai…

The recent arrival of France’s first floating regasification and storage unit (FSRU) at the port of  Le Havre comes as high gas stocks and a rebound in nuclear power output have limited the country’s need for natural gas.  “Given the current healthy gas stock situation and improved nuclear availability in France, we would expect the…

The Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) on Friday issued a final rule extending the suspension of LNG transports by rail car through June 2025, ensuring no shipments occur until a companion rulemaking is finalized.  In 2021, the Biden administration first suspended a Trump-era final rule authorizing liquefied natural gas rail…

A collision of two vessels in the Suez Canal hasn’t disrupted LNG traffic between the Atlantic and Pacific basins, but slight delays on the critical waterway could help add to shipping times as U.S. cargoes continue to shift from the Panama Canal. The Suez Canal Authority reported Wednesday a stop in traffic on the channel…

More U.S. LNG cargoes are taking longer and costlier routes to reach consumers in Asia as a drought impacting levels at the Panama Canal has increased wait times to transit the waterway. “The Panama Canal remains a primary route for U.S. LNG to access Asian markets, though an increased volume of trade is utilizing other…

Weak prices for spot LNG and European natural gas, coupled with high levels of floating inventory, have triggered discussion about something that was unthinkable only a year ago – the prospect of U.S. cargo cancellations.

Despite a current lull in LNG prices and trading activity, shipping company Cool Co. Ltd. (CoolCo) expects the long-term focus on natural gas supply security to make independent vessel owners think twice about short-term commitments for this winter. The Bermuda-based company recently reported in a market outlook that vessel owners could have more incentive to…

Saudi Arabian Oil Co. is taking a 10% stake in a Chinese petrochemical company to expand its crude oil presence in the country. Aramco, as it is known, said it would pay around $3.6 billion to buy the interest in Rongsheng Petrochemical Co. Ltd.  Aramco Overseas Co. (AOC) would manage the stake. Under a long-term…