A roundup of news and commentary from NGI’s LNG Insight The Ever Given was still stuck in the Suez Canal on Friday afternoon after running aground Tuesday. About 10 tugboats, two dredger vessels and additional machinery and equipment on the banks are working to refloat the massive container ship, according to shipping services firm Leth…
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LNG, Oil Markets Watch Suez Canal as Efforts to Remove Container Ship Continued
The potential for a significant backlog of vessels carrying commodities and other goods increased Thursday as a massive container ship remained stuck in the Suez Canal after running aground Tuesday. Vessels waiting to pass through the canal or approaching it as of Wednesday included seven crude, 15 refined products, five liquefied natural gas (LNG) tankers…
March 25, 2021
LNG Demand, Supply Interruption Fuel April Natural Gas Futures
Natural gas futures on Wednesday gained ground for the third time in four sessions amid steady demand for U.S. liquefied natural gas (LNG) and concern about delayed export deliveries after a huge container ship was grounded in the Suez Canal. The April Nymex contract climbed 1.0 cent day/day and settled at $2.518/MMBtu. May followed suit,…
March 24, 2021
LNG, Oil Markets Roiled as Suez Canal Faces Issues with Stuck Container Ship
A massive container ship ran aground Tuesday in the Suez Canal, clogging one of the world’s most heavily trafficked shipping lanes and creating logistical hurdles for the liquefied natural gas (LNG) and oil trade, as well as for other commodities. “The transit point is extremely vital,” ClipperData’s Matt Smith told NGI. Smith is director of…
March 24, 2021
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