LNG

Demand for liquefied natural gas cargoes surged worldwide as liftings fell amid concerns about a coming global shortage of supplies leading to a jump in North Asian spot cargo prices to over $16.00 for October delivery and European natural gas values reaching their highest for the season since the early 2000s.

A trading chronicle of the last month of LNG shipbroking activities captured the revival of the North Asian markets with the “miraculous upward trajectory” of LNG prices, helped by a variety of factors such as plant outages in all Basins, South Korean coal caps, Chinese coal restrictions, while favourable arbitrage conditions were further helped by hold-ups in the Panama Canal.