There were 2.41mmt of LNG on the water with destinations in China according to our market visibility at the time of writing on 7 November.
These cargoes had an estimated delivery horizon of 22 December. Only one of these inbound cargoes had originated in the United States, amounting to 0.08mmt, whilst 0.93mmt are due from Qatar and Australia had 0.77mmt directed to China. Six cargoes totalling 0.48mmt were broadly headed for China but still had to declare their destination terminals.
Most LNG cargoes still in transit at the time of writing and with scheduled arrivals at specified ports in China were due to arrive in South China and amounted to 0.86mmt, led by Guangdong Dapeng LNG, which as a destination was followed by the Zhuhai LNG terminal. However, we highlight that cargoes tagged with the destination of ‘Guangdong Dapeng LNG’ have frequently been arriving at other Chinese terminals shortly after arriving in Chinese waters. Concurrently, the North China region was looking to receive roughly 0.50mmt, led by 0.42mmt headed for the Caofeidian LNG terminal. Again, we caution that this declared destination might be misleading as the cargo may eventually arrive at one of the other terminals in Bohai Bay. Meanwhile, anticipated LNG deliveries to East China amounted to 0.57mmt. Apparent demand there was led by 0.23mmt going to the Zhejiang LNG terminal at the time of writing, followed by Jiangsu LNG with 0.11mmt.
Six LNG cargoes totalling 0.48mmt were broadly headed towards China but without specifying an arrival port. The shipments aboard the Nikolay Zubov, LNG Phecda, LNG Merak, Lena River, GasLog Windsor and Al Mafyar had an arrival horizon of 22 December. The four Russian vessels were carrying Yamal LNG cargoes – either directly from the plant or via Zeebrugge reloads – whilst the GasLog Windsor was transporting the sole US cargo from Sabine Pass LNG and the Al Mafyar a Qatari contingent.
