LNG

European LNG and wholesale natural gas day-head andfutures prices declined over the past week as mid-Summer arrived and storage began to swing towards peak levels while cargo deliveries slowed to Chinese and European regasification terminals.

European liquefied natural gas and wholesale pipeline gas prices soared by over 16 percent on the week while stronger Asian spot cargo values and higher global gas futures prices signalled a return of volatility to a market harbouring doubts about the stability of supplies.

European and Asian liquefied natural gas prices rebounded from near three-year lows as European storage levels began to fall for key nations and liftings of LNG cargoes hit a winter season low amid renewed concern about adverse government interference in energy markets.

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 and Asian liquefied natural gas prices dropped again after last week’s brief rebound as storage level optimism prevailed despite lower temperatures and with fewer LNG cargoes pointing at the European Union.

Global liquefied natural gas prices declined for a third week as European Union supply was helped by peak storage levels and mild weather, while the start of winter in parts of China coincided with further restrictions on Panama Canal transits and along with narrow price margins will limit arbitrage opportunities.

North Asian spot cargo prices surged by over 14 percent, though failed to keep pace with the rising European Union benchmark as this week saw most leading EU LNG nations drawing on their gas storage as colder weather arrived and as shipping windows opened with falling charter rates.

Sept 23 (LNJ) - Shipping spot charter rates for LNG carriers are little changed since last week. Spot charter rates are still between $63,500 per day and $59,500 per day in the West of Suez market for vessels of 155,000-165,000 cubic metres capacity.

   East of Suez spot charter rates are again quoted by shipbrokers at between $60,500 per day and $56,500 per day. One-year charter rates for the most modern vessels were unchanged at about $93,000 per day.

July 22 (LNGJ) - Shipping spot charter rates for LNG carriers were unchanged in the past week. Rates in the West of Suez market were quoted at between $67,000 per day and $63,000 per day for vessels of 155,000-165,000 cubic metres capacity.

   East of Suez spot charter rates were between $55,000 per day and $51,000 per day, according to London brokers. However, one-year charter rates for the most modern vessels increased slightly to be around $93,000 per day.

Jan 14 (LNGJ) - Shipping charter rates for LNG carriers in the spot market increased as Northern Hemisphere winter market demand surged. Rates were quoted at an average of between $168,000 per day and $172,0000 per day West of Suez. Spot rates of $158,000 to 162,000 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 also increased for the most modern vessels and ships were available for around $49,000 per day.