LNG

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Singapore LNG spot cargo prices dropped to four-year lows of under US$4.000 per million British thermal units for southeast Asia, though managed to stay above the lowest levels for North Asia shipments.

Singapore LNG spot cargo indices were becalmed by large volumes and lower seasonal demand in a market with the highest quotes for North Asia in the second half of July.

The Singapore average index for June crept up to US$5.306 per MMBtu from last week’s June average of US$5.221 per MMBtu.

Singapore’s latest LNG indices released on May 9 included a price of US$5.290 per MMBtu for the first half of June and US$5.332 per MMBtu for the second half of June.

The surplus in global LNG supplies continued to put downward pressure on prices in the Northern Hemisphere summer market as crude oil prices moved lower on the week to around $70 per barrel.

Cargo prices for the first half of July were at US$5.395 and were higher for the second half of July at US$5.447.

The Sling is an index series for LNG developed by the Singapore Exchange (SGX) and its subsidiary Energy Market Company.

It is a spot index for cargoes “on the waters in the vicinity of Singapore which could go into any port” and based on cargo sizes of 135,000 cubic metres capacity to 175,000 cubic metres capacity.

The North Asia price rose to a June average of US$5.555 per MMBtu versus last week’s June average of US$5.506 per MMBtu.

North Asia cargoes for the second half of June were at US$5.566 per MMBtu, before rising for the first half of July to US$5.644 per MMBtu, then moving higher to US$5.708 for the second half of June.

The North Asia prices are for delivery ex-ship (DES) to all ports in Japan, Korea, Taiwan and China.

The Dubai-Kuwait-India Sling index is assessed in collaboration with London-based, inter-dealer global brokerage Tullett Prebon for regional cargoes shipped to India and the Middle East and averaged US$5.400 per MMBtu for June, an increase from last week’s June average of US$5.353 per MMBtu.

The DKI index, based on a cargo of between 138,000 cubic metres capacity and 170,000 cubic metres, is seen in the second half of June at US$5.420 per MMBtu before increasing to US$5.497 per MMBtu for the first half of July.

The price for the second half of July edged higher to US$5.570 per MMBtu.

The SGX LNG Index Group (Sling) is an initiative by SGX and EMC for spot LNG price discovery.

It is a benchmark based on assessments of LNG cargo value by market participants. They provide assessments based on the value of an LNG cargo at a specific location for delivery.

The Sling is based on participants submitting assessments to determine an index value.

“The participant pool consists of a broad group of market players to ensure that any Sling Assessment is as representative of actual market conditions as possible,” says the SGX, while pointing out that the participant is kept confidential at all times.

The SGX-EMC LNG prices include both lean and rich cargoes.

Singapore LNG spot cargo indices began moving to levels above the $5.500 per million British thermal units mark as July quotations made an appearance for North Asia just below US$5.800.

The Singapore average index for June was at US$5.203 per MMBtu, rising from last week’s May average of US$4.876 per MMBtu.

Singapore’s latest LNG indices released on April 18 included a price of US$5.055 per MMBtu for the second half of May and higher at US$5.136 per MMBtu for the first half of June.

Prices were quoted on the basis of the surplus in global LNG supplies as Northern Hemisphere summer season trades began amid a solid crude oil price this week of over $70 per barrel.

Cargo prices for the second half of June were at US$5.270 and were higher for the first half of July at US$5.395.
The Sling is an index series for LNG developed by the Singapore Exchange (SGX) and its subsidiary Energy Market Company (EMC).

It is a spot index for cargoes “on the waters in the vicinity of Singapore which could go into any port” and based on cargo sizes of 135,000 cubic metres capacity to 175,000 cubic metres capacity.

The North Asia price increased to a June average of US$5.554 per MMBtu versus last week’s May average of US$5.100 per MMBtu.

North Asia cargoes for the second half of May were at US$5.386 per MMBtu, before rising for the first half of June to US$5.469 per MMBtu, then jumping to US$5.639 for the second half of June.

The first half of July quote for North Asia was the highest on the board at US$5.788 per MMBtu.

The North Asia prices are for delivery ex-ship (DES) to all ports in Japan, Korea, Taiwan and China.

The Dubai-Kuwait-India Sling index is assessed in collaboration with London-based, inter-dealer global brokerage Tullett Prebon for regional cargoes shipped to India and the Middle East and averaged US$5.327 per MMBtu for June, an increase from last week’s May average of US$4.990 per MMBtu.

The DKI index, based on a cargo of between 138,000 cubic metres capacity and 170,000 cubic metres, is seen in the second half of May at US$5.197 per MMBtu before increasing to US$5.253 per MMBtu for the first half of June.

The price for the second half of June jumped to US$5.400 per MMBtu and increased further for the first half of July to US$5.533 per MMBtu.

The SGX LNG Index Group (Sling) is an initiative by SGX and EMC for spot LNG price discovery.

It is a benchmark based on assessments of LNG cargo value by market participants. They provide assessments based on the value of an LNG cargo at a specific location for delivery.

The Sling is based on participants submitting assessments to determine an index value.

“The participant pool consists of a broad group of market players to ensure that any Sling Assessment is as representative of actual market conditions as possible,” says the SGX, while pointing out that the participant is kept confidential at all times.

The SGX-EMC LNG prices include both lean and rich cargoes.

Singapore LNG spot cargo indices began moving well clear of three-year lows as prices recovered for all destinations and North Asia was at the highest for the second half of June.

Singapore LNG spot cargo indices began to move clear of three-year lows as prices recovered slightly for all destinations with North Asia at a premium for the second half of June at $4.860 per million British thermal units.

Singapore LNG spot cargo indices dropped to their lowest level for about three years with the May price being at a high of US$4.793 per million British thermal units and only June cargoes for North Asia quoted above the US$5.000 level.

Singapore LNG cargo indices were at a high of $6.40 per million British thermal units for North Asia while May spot cargoes were quoted at around $6.00 per MMBtu as the oil price remained solid above $65 per barrel and underpinned hydrocarbon markets.

The Singapore average index for April was at US$5.983 per MMBtu, falling from last week’s average of US$6.136 per MMBtu.

Singapore’s latest LNG indices released on February 21 included a price of US$6.060 per MMBtu for the second half of March and was lower at US$5.985 per MMBtu for the first half of April.

Cargo prices for the second half of April were at US$5.980 and were slightly higher for the first half of May at US$6.059.

The Sling is an index series for LNG developed by the Singapore Exchange (SGX) and its subsidiary Energy Market Company (EMC).

It is a spot index for cargoes “on the waters in the vicinity of Singapore which could go into any port” and based on cargo sizes of 135,000 cubic metres capacity to 175,000 cubic metres capacity.

The North Asia price dropped to an April average of US$6.317 per MMBtu versus US$6.506 last week.

North Asia cargoes for the prompt second half of March were the highest available in the market at US$6.400 per MMBtu, before declining for the first half of April to US$6.325 per MMBtu, then down further to US$6.318 for the second half of April.

The first half of May quote for North Asia showed some recovery at US$6.350 per MMBtu.

The North Asia prices are for delivery ex-ship (DES) to all ports in Japan, Korea, Taiwan and China.

The Dubai-Kuwait-India Sling index is assessed in collaboration with London-based, inter-dealer global brokerage Tullett Prebon for regional cargoes shipped to India and the Middle East and averaged US$6.068 per MMBtu for April, down from last week’s US$6.205 per MMBtu.

The DKI index, based on a cargo of between 138,000 cubic metres capacity and 170,000 cubic metres, is seen at a high in the second half of March of US$6.130 per MMBtu before dropping to US$6.060 per MMBtu for the first half of April and edging higher to US$6.075 for the second half of April.

The first half of May quote for Dubai-Kuwait-India was at a steady US$6.113 per MMBtu.

The SGX LNG Index Group (Sling) is an initiative by SGX and EMC for spot LNG price discovery. It is a benchmark based on assessments of LNG cargo value by market participants.

They provide assessments based on the value of an LNG cargo at a specific location for delivery.

The Sling is based on participants submitting assessments to determine an index value.

“The participant pool consists of a broad group of market players to ensure that any Sling Assessment is as representative of actual market conditions as possible,” says the SGX, while pointing out that the participant is kept confidential at all times.

The SGX-EMC LNG prices include both lean and rich cargoes.

Singapore LNG cargo indices dropped below US$7.00 per million British thermal units as the market was purely seasonal, though supported in the background by a steady oil price above $60 per barrel.

Singapore LNG cargo indices maintained their seasonal declines as the March average was under US$7.70 per million British thermal units and April cargo quotes made an appearance at less than US$7.30 per MMBtu.

Singapore LNG cargo indices fell to their lowest level this winter to be below US$9.00 per million British thermal units except for some destinations in North Asia for February deliveries.