European LNG prices jump even amid gas storage builds as Ukraine and Middle East tensions unsettle markets
European liquefied natural gas prices surged by more than 12 percent this week even as gas storage builds gathered pace at the same time as worsening geopolitical problems from the Russia-Ukraine conflict to the growing tensions in the Middle East region.
EU LNG prices ease on week as Atlantic-Pacific competition gathers pace and ship charter rates surge
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.
Global LNG prices increase with focus shifting to winter supplies as liftings fall and spot shipping rates rise
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.
European and Asian LNG prices decline again as seasonal changes flow through gas market and shipping
European and Asian natural gas market prices declined in the past week but North Asia spot cargo values fell at a faster rate as Atlantic and Pacific Basin competition increased and the shipping charter market tried to reorganize for a change of season.
Charter rates up again
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.
Charter rates firm
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.
