Shipping

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
U.S. Loadings Headed for Asia Drive LNG Freight Rates to Record High

U.S. Loadings Headed for Asia Drive LNG Freight Rates to Record High

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…

November 18, 2021
Bio, Synthetic LNG Seen as Key to Super-Chilled Fuel’s Long-Term Role in Marine Sector

Bio, Synthetic LNG Seen as Key to Super-Chilled Fuel’s Long-Term Role in Marine Sector

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…

November 4, 2021
LNG Cargoes Drive Record Tonnage at Panama Canal

LNG Cargoes Drive Record Tonnage at Panama Canal

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…

November 3, 2021
Energy Trader Gunvor Locks in LNG Vessels to Advance Climate Goals

Energy Trader Gunvor Locks in LNG Vessels to Advance Climate Goals

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)…

October 27, 2021
LNG Freight Rates Move Higher as Winter Nears in an Already Volatile Market

LNG Freight Rates Move Higher as Winter Nears in an Already Volatile Market

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…

October 1, 2021
Decarbonization Costs Squeeze LNG Suppliers

Decarbonization Costs Squeeze LNG Suppliers

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…

September 30, 2021
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