LNG spot cargo prices drop to $6.30 per MMBtu for North Asia and are lower for elsewhere
The prices of spot LNG cargoes declined by around 11 percent during the past week with December 2019 and January 2020 deliveries being quoted at $6.30 per million British thermal units for China and South Korea.
LNG cargo price drops with only late November Asian deliveries staying above $5.00 per MMBtu
Singapore LNG spot cargo prices dropped half a percentage point on the week from already low levels with only Asian and Middle East cargoes for delivery in the second half of November maintaining values over US$5.000 per million British thermal units amid ample supplies.
Singapore LNG cargo prices drop below $5.00 per MMBtu level amid Gulf cargo depression
Singapore LNG spot cargo prices drop for Southeast Asia as well as China and South Korea to under US$5.00 per million British thermal units amid a lack of quotes for Dubai and Kuwait cargoes because of security concerns.
Singapore LNG spot cargo prices lose more ground to stay just above $4.00 per MMBtu level
Singapore LNG spot cargo prices fell, led by a decline in North Asia of around 3 percent on the week and in the Middle East and India as traders looked to September and beyond for higher values.
Singapore LNG cargo prices increase with North Asia edging towards $5.00 per MMBtu level
Singapore LNG spot cargo prices moved higher for fixtures to North Asia and for the month of September and were just short of the $5.00 per million British thermal units mark as Dubai-Kuwait-India market prices also rose.
Singapore LNG spot cargo prices recover to be in high $4.00 levels for North Asia and India
Singapore LNG spot cargo prices recovered slightly in the past week to be above the US$4.000 per million British thermal units level for southeast Asia and higher for North Asia and the Dubai-Kuwait-India market amid continuing over-supply.
Singapore LNG spot cargo prices fall again to four-year lows amid over-supply and oil drop
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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 prices hit three-year lows as glut affects China and Japan values
Singapore LNG spot cargo prices dropped to around three-year lows because of high volumes and plunging seasonal demand as cargoes for North Asia destinations such as China and Japan lost US$0.66 per MMBtu in a week from already depressed levels.
Singapore LNG prices drop as lower demand and high volumes offset any oil price effects
Singapore LNG spot cargo prices dropped as excess volumes and lower seasonal demand led to the highest price quoted being under US$5.500 per million British thermal units for the first half of August for North Asia.
The Singapore average index for July dropped to US$5.084 per MMBtu from last week’s June average of US$5.306 per MMBtu.
Singapore’s latest LNG indices released on May 16 included a price of US$5.005 per MMBtu for the second half of June and US$5.052 per MMBtu for the first half of July.
The surplus in global LNG supplies continued to put downward pressure on prices in the Northern Hemisphere summer market as crude oil prices stayed solid on the week at around $71 per barrel.
Cargo prices for the second half of July were at US$5.116 and were highest for the first half of August at US$5.176.
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 fell to a July average of US$5.354 per MMBtu versus last week’s June average of US$5.555 per MMBtu.
North Asia cargoes for the second half of June were at US$5.245 per MMBtu, before rising for the first half of July to US$5.310 per MMBtu, then moving higher to US$5.380 for the second half of July.
The first half of August price for the North Asia market was US$5.475 per MMBtu, the highest on the board.
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$5.192 per MMBtu for July, much lower than last week’s June average of US$5.400 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$5.113 per MMBtu before edging higher to US$5.167 per MMBtu for the first half of July.
The price for the second half of July was at US$5.217 per MMBtu and the highest for the region was the first half of August price of US$5.320 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 prices becalmed by high volumes and lower seasonal demand
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.
