LEAD STORY
LNG prospered in 2023, according to LNG Journal data, with a shift in Europe’s gas strategy facilitating a steady undercurrent to strong demand growth in Southeast Asia. Prospects for 2024 are also positive, some uncertainty on Far Eastern demand notwithstanding, our Markets Editor Alexander Wilk writes.
Northeast Asia stops short of issuing large buy tenders this winter
Written by AJ KotzeMuted gas demand prevails across northeast Asia as comfortable stocks and a mild winter make buyers abstain from issuing large tenders for balance-of-winter and avoid calls for US spot cargoes, for now. But with JKM prices forecast to average $11.98/MMBtu in the first quarter of 2024 – just below oil-linked term gas supply – some private firms may seek to buy spot LNG rather than relying on their domestic suppliers. Our Markets Editor Anja Karl has more.
Also in this issue
December trade buoyant on higher US, Australian and Qatari exports
Written by AJ KotzeOur December data showed significant LNG trade growth globally although exports were broadly flat year-on-year. Meanwhile, demand also saw a net increase on account of a few select demand centres, our Market Editor Alexander Wilk reports.
Problems with South Korea’s new cargo containment system ends up in arbitration
Written by AJ KotzeLast month, the London Maritime Arbitration Association (LMAA) ordered Samsung Heavy Industries (SHI) to pay $290 mill in compensation to SK Shipping for defects found in two LNGCs built by the South Korean shipbuilder. Technical Editor Ian Cochran has more.
Several announcements were made just before the holiday break involving major technology contracts and agreements. Ian Cochran reports.
Data-driven monitoring drives LNG bunkering efficiency
Written by AJ KotzeIn a world increasingly fuelled by data, the bunkering sector has at times been slow to change however innovation is now charting a course toward real-time analytics that could revolutionize vessel performance and efficiency. While price and availability of fuel have traditionally dominated decision-making, the LNG sector is undergoing a transformation as new technologies provide deeper insights. Fuelling Editor Malcolm Ramsay has more.
A round-up of latest events, company and industry news
Written by AJ KotzeACCELLERON, as Swiss company with expertise in turbocharging technologies and which forms part of the Sauber Group, has had its service contract renewed by the Dutch shipping company Anthony Veder, owner of a growing small-scale LNG carrier fleet.
