LNG

European and Asian liquefied natural gas prices declined again for the front month though were mixed further out for Europe as warmer weather returned to key regional markets to exacerbate the gas glut with storage still at record levels for the winter season.

European Union liquefied natural gas prices eased on the week and were surpassed by UK wholesale natural gas prices while Asian spot values for November edged higher as competition between Atlantic and Pacific Basin buyers gathered pace with cargo liftings increasing and spot carrier charter rates surging.

European and Asian liquefied natural gas prices increased this week as market focus shifted from high natural gas storage levels to the likely rapid draw in the weeks ahead on market supplies and with spot LNG charter rates also rising for trading in the Atlantic and Pacific basins.

June 17 (LNGJ) - Shipping charter rates for LNG carriers in the spot market rose again in the past week by around $10,000 per day in the West of Suez market to between $74,000 per day and $68,000 per day for vessels of 155,000-165,000 cubic metres capacity.

   For vessels East of Suez spot charter levels were up $6,000 per day to between $60,000 per day and $56,000 per day, according to London brokers. One-year charter rates for the most modern vessels also edged higher to around $79,000 per day.

Jan 22 (LNGJ) - Shipping charter rates for LNG carriers in the spot market have dropped in the past week by around $20,000 dollars per day. Rates were quoted at an average of between $148,000 per day and $152,0000 per day West of Suez. Spot rates of $138,000 to 142,000 were heard for the East of Suez charter market for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charters for the most modern vessels and ships were available for around $49,000 per day.

Dec 31 (LNGJ) - Shipping charter rates for LNG carriers in the spot market were firm as Northern Hemisphere winter market demand increased. Rates were quoted at an average of between $158,000 per day and $162,0000 per day West of Suez. Spot rates of $148,000 to 152,000 were heard for the East of Suez charter market for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charters were also little changed for the most modern vessels and were available for around $47,000 per day.