Could LNG Shipping Spot Rates Hit $250,000/day?

Spot day charter rates for LNG carriers have hit their highest levels since mid-2012 on the back of low prompt availability of vessels in both the Atlantic and Pacific basins. This week, S&P Global Platts assessed Pacific and Atlantic day rates for LNG vessels at $140,000/day and $130,000/day, respectively, up 40% since mid-September, and nearly
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Japanese shipping giant Mitsui O.S.K. Lines has taken delivery of the LNG carrier Marvel Eagle, the first of three vessels intended to transport gas in the U.S. The MOSS-type ship, featuring a capacity of 155,000 cbm, was named on September 5 at the Kawasaki Heavy Industries’ Sakaide Shipyard. The ship was ordered in an en
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AHMEDABAD: Adani Group has announced signing of an agreement with French energy giant Total for Liquefied Natural Gas (LNG) import terminals and fuel retail network. “Adani and Total have signed an agreement to jointly develop multi-energy offerings to the Indian energy market,” a joint statement issued by the two companies said. Total, the world’s second
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Spot LNG prices in east Asia fell back slightly over the four weeks from mid-September to mid-October, according to the ICIS East Asia Index (EAX). A softer market in Asia reduced the region’s premium to European gas prices and helped to attract increased flows of LNG into the northern European gas markets for early winter.
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On 24 September, China released a second list of goods which will attract a 10% tariff on imports from the US. Interestingly, LNG did not feature in the first list, but it was included in the second. China also indicated that it may eventually impose a 25% tariff on the US LNG imports. In this
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Asian spot liquefied natural gas (LNG) prices eased slightly over the past week as healthy supplies going into the northern hemisphere’s autumn season countered upward pressure from a bullish oil market. Spot prices for November delivery LNG-AS dipped by 10 cents to $11 per million British thermal units (mmBtu), industry sources said. That slip came
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Thailand’s Ministry of Transport plans to open LNG stations along the eastern seaboard for vessels using clean energy as the International Maritime Organization’s global sulfur limit rule for marine fuels looms, the Bangkok Post reported Sunday. The IMO will cap sulfur in marine fuels at 0.5% worldwide from January 1, 2020, compared to 3.5% currently.
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Stolt-Nielsen Limited (Oslo Børs: SNI), Golar LNG Ltd and Höegh LNG Holdings Ltd. announced today a combined investment commitment of $182 million in Avenir LNG Ltd. to pursue opportunities to deliver LNG to areas of stranded demand, as well as the development of LNG bunkering capabilities. The investment will be contributed as cash and equity-in-kind
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One of the world’s largest cruise majors, Carnival Corporation, is not considering retrofits to liquefied natural gas (LNG) to meet sulphur cap regulations, Tom Strang, Senior Vice President – Maritime Affairs at Carnival Corporation, said at a panel within the SMM trade fair in Hamburg. The panel titled ‘The Passenger Shipping Industry as an Environmental Pioneer’,
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The price of shipping liquefied natural gas (LNG) has spiked in September and is likely to remain high next year, buoyed by rising production from new plants and concerns that demand for LNG vessels will outpace supply. The rate for vessels shipping LNG from the Atlantic Basin to Asia has jumped to $90,000 to $95,000
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