European natural gas and Asian LNG spot cargo prices drop to near three-year lows on ample supply
European natural gas and North Asian spot cargo prices declined again towards levels last seen three years ago as supplies and storage levels were ample despite colder weather with high flows of LNG cargoes towards Europe along with steady flows of winter pipeline gas from Norway.
European natural gas and LNG markets produce winter prices in mid-summer while Asia spot values jump
European natural gas and LNG prices soared again and sent a chill through the mid-summer energy markets with elevated winter prices arriving early and similar to seven months ago while North Asia spot values jumped amid the expectation of more competition for cargoes.
Charter rates fall
May 20 (LNGJ) - Shipping charter rates for LNG carriers in the spot market declined in the past week by around $12,000 per day in both the West of Suez market and East of Suez. Fixtures in the Atlantic and Pacific basins were quoted at between $69,000 per day and $65,000 per day for vessels of 155,000-165,000 cubic metres capacity. One-year charter rates for the most modern vessels were unchanged at around $77,000 per day.
LNG is in demand in North Asia and Europe as Japan-Korea prices and European benchmarks jump
Demand for liquefied natural gas was high worldwide as liftings remain in the three-digit zone with spot cargo prices rising for North Asia and with European benchmark gas values offering Atlantic-Pacific competition.
Charter rates level
March 19 (LNGJ) - Shipping charter rates for LNG carriers in the spot market reached global parity levels as West Of Suez rates declined by $4,000 per week to average between $32,000 per day and $28,000 per day for vessels of 155,000-165,000 cubic metres capacity. In the East of Suez charter market average rates were at the same level after being unchanged from last week, according to various brokers. One-year charter rates for the most modern vessels increased to $49,000 per day.
