Energy: Uncertain Outlook for LNG Market

MarineLink.com
Wednesday, July 17, 2013

June saw more enquiries than May, and more were converted into fixtures, but Drewry’s LNG freight index was stubbornly unchanged according to the latest LNG Insight. However, market sentiment remains positive as Cheniere took three vessels on mid-term charter, plus options. One vessel from Dynacom was also added to the first of the two ME-GI ships from Teekay, while Inpext also announced newbuildings for Ichthys.
 

But sentiments were less positive in Africa, where the Nigerian Maritime Administration blocked ship movements from the Bonny Channel as its relationship with Nigeria LNG became even more tense. African supply has already suffered as North African suppliers have been facing feedstock problems. The latest force majeure on NLNG could curtail as much as one cargo every day, if we go by what the terminal exported in 2012.
 

Although Angola LNG has been commissioned, it will soon go on a planned maintenance shortly and is in no position to fill in the vacuum left by the absence of Nigerian LNG. Technical problems also closed Pluto LNG for a few days during early July, delaying about 200,000 tonnes of cargo. Rising fleet supply coupled with such unplanned obstructions could lead to diminished trade and lower charter rates in the very short term.
 

The Drewry LNG Freight Index is freight rate assessments based on actual deals and market reports for a conventional LNG carrier of 155,000 cbm and less than five years of age. Hire period for long-term freight rate assessments are for charter durations of 15 years or more, while short-term freight rate assessments are based on charter duration of one to three years. Base year for the Index is January 2005.


“LNG Insight” is a monthly report published by Drewry Maritime Research.

 
 
 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Long Beach Picketers Not Striking -Port CEO

Port of Long Beach CEO Jon Slangerup issued a statement addressing the status of picketing truckers at the harbor, pointing out that the demonstration is not a strike.

E-Procurement Streamlined via the Cloud

Marine Procurement Solutions (MPS) has built an electronic platform that aims to enhance the purchasing cycle for the maritime industry. MPS provides software,

Cashman Continues to Expand US Northeast Barge Fleet

Cashman Equipment Corp. announced the continuing expansion of its U.S. Northeast barge and crane fleet for the marine construction market.   Over the past year,

Energy

BHGI-designed ATB Unit Under Construction

Bristol Harbor Group, Inc. (BHGI) informs it is currently completing the detail design phase of a 399’ x 74’ x 30’ 80,000 BBL double hull oil tank barge and a 120’

Maritime Tension Dominates Southeast Asia Summit

Southeast Asian leaders edged closer to open criticism of China's land reclamation in the disputed South China Sea at a regional summit on Monday, as the Philippines

Lagos Port Drags on Africa's Top Economy

Ruling party reforms improved Apapa port; shippers still face delays and corruption. The road leading to the Lagos port, which handles nearly everything that Africa's biggest economy imports,

LNG

Drydocks World Wins Dubai Chamber CSR Label

Drydocks World group the leading provider of maritime and offshore services to the shipping, oil, gas and energy sectors has received the Dubai Chamber Corporate

Skangass Celebrates Topping Up

Nordic liquefied natural gas operator Skangass  has celebrated a topping out ceremony at its Pori LNG terminal. The company said it was making progress in the

H-Energy to Build Floating LNG Terminal in West Bengal and Canada

Business Standard reported that real estate developer Hiranandani Group plans to set up a INR 2,400 crore floating LNG import terminal off Haldia, West Bengal

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3095 sec (3 req/sec)