There were 2.14mmt of LNG on the water with destinations in China according to market visibility at the time of writing on 3rd June. These cargoes had a delivery horizon of 26th June. Roughly 0.39mmt were broadly headed for China but still had to declare their destination terminal. A total of 0.59mmt of inbound cargoes were derived from the United States led by Sabine Pass LNG.
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 led by Guangdong Dapeng LNG. This was followed by the Caofeidian LNG terminal in the greater Beijing/Tianjin area in North China. In contrast, the East China region was not looking to receive major Chinese LNG imports for the foreseeable future.
At the time of writing, our market visibility indicated there were eight US LNG cargoes en route to China with scheduled arrivals by 26th June. These cargoes amounted to 0.59mmt, 0.53mmt of which had been loaded at Sabine Pass LNG. The remaining 0.06mmt had been exported from Cove Point LNG via the Seri Balqis. Two of the US cargoes – carried by the MOL FSRU Challenger and the Energy Pacific – still had to declare their destination in China at the time of writing.
Another three cargoes amounting to 0.21mmt of loaded LNG were also still making their way towards China without specifying their arrival port. These cargoes had sailed from Australia via the Myrina, the Maran Gas Amphipolis and the Flex Freedom. Beyond these Australian cargoes, we were also tracking 24 shipments amounting to 1.90mmt that were broadly en route to the Far East with a preliminary delivery horizon of 10th July.
Of total LNG currently en route to China, we are anticipating 0.56mmt to be delivered to North China – comprising the wider Beijing area and China’s industrial north – with a delivery horizon of 26th June.
Among the roster of northern Chinese terminals, CNPC’s Caofeidian LNG was looking to receive 0.27mmt via four cargoes by 19th June. These cargoes were exported by the United States, Russia and Australia. The Russian cargo was a Yamal LNG transshipment from the Georgiy Brusilov to the Clean Vision at Zeebrugge on 19th May.
Current market visibility further indicated 0.15mmt were destined for Sinopec’s Qingdao LNG by 12th June, comprising a cargo from Papua New Guinea’s PNG LNG via the Papua and Australia Pacific LNG shipment aboard the CESI Beihai. Meanwhile, expected deliveries to Tianjin LNG comprised an Oman LNG cargo of 0.06mmt via the Trinity Arrow, which was due to arrive by 11th June, and a cargo of 0.08mmt from Sabine Pass LNG aboard the SCF Barents. The vessel was scheduled to arrive in Tianjin by 26th June.
We currently see the East China region – comprising the wider Shanghai area and Zhejiang province – to receive 0.27mmt by 18th June. Shanghai (Yangshan) LNG is scheduled to receive 0.09mmt by that date, comprising an Australian and a Malaysian cargo via the Seri Begawan and the Polar Spirit. Moreover, we were anticipating an Australian cargo of 0.08mmt from Australia Pacific LNG to arrive via the CESI Gladstone at Qidong LNG. Additionally, we were seeing a 0.06mmt Bontang-derived cargo travelling to Jiangsu LNG via the Cape Ann as well as a Gladstone LNG shipment of 0.04mmt via the Seri Angkasa en route to Zhoushan LNG. At the time of writing, however, we were not expecting an imminent delivery to Zhejiang LNG.
In the south of the country, we were expecting 0.92mmt to be delivered by 25th June. LNG imports in the South China region were due to be led by Guangdong Dapeng LNG, which at the time of writing was expecting five cargoes amounting to 0.30mmt. These shipments comprised a shipment each from Indonesia, t he United States, Australia, the UAE and a re-export from Singapore.
Three further cargoes totalling 0.24mmt aboard the Ras Laffan-derived Al Thumama and Al Safliya as well as the LNG Ogun carrying a Nigerian cargo were headed for Zhuhai LNG. The cargoes were scheduled to be delivered by 15th June, our data indicated.
Jieyang LNG and Fujian LNG, meanwhile, were both scheduled receive two cargoes by mid-June. Jieyang LNG was looking to take in 0.15mmt via an Australian and a US cargo shipped from Australia Pacific LNG and Sabine Pass LNG via the Pan Europe (0.07mmt) and the CESI Qingdao (0.08mmt), respectively. Concurrently, our market visibility indicated Fujian LNG was looking to receive 0.12mmt via the Cove Point LNG-derived Seri Balqis (0.06mmt) and the Tangguh LNG-derived Min Lu (0.06mmt) by 16th June.
The remaining two cargoes headed to South China at the time of writing were destined for the Beihai and Hainan terminals. Beihai LNG was due to receive the Wheatstone LNG-derived Asia Excellence (0.04mmt) by 6th June whilst Hainan LNG was expecting the GasLog Houston to deliver a Nigerian cargo of 0.07mmt by 10th June.