LNG

Security costs rather than freight fundamentals are increasingly determining LNG shipping economics. Owners face "between 6 and 10 million dollars for every single shipment" simply to secure additional insurance cover, said Tom Beney, Senior Vice President of Ocean Freight at StoneX.

Danish shipyard Fayard and CEO Thomas Andersen has been urged to halt all repair and maintenance work on Russia’s ice-class Arc7 LNG carriers, as servicing carried out in 2026 risks extending the vessels’ operational lifespan beyond the EU’s sanctions deadline.

Greece has warned EU sanctions against the transhipment of Russian LNG to third countries could surrender market share to non-European rivals, as EU envoys postponed talks on the bloc’s 21st sanctions against Russia to July 23.

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In another escalation of hostilities, mainly caused by Iranian strikes on commercial shipping, including an LNGC, both Iran and the US were claiming control over vessel transits, at the time of writing.

World’s gas consumption is predicted to fall for the third time in seven years, despite LNG suppliers from other regions helping to offset Middle East losses.

The EU paid an estimated €5.96 bill ($6.82 bill) for Yamal Arctic LNG in the first half of this year.

Indonesia’s PT AKR Corporindo (AKRA), the operator of the JIIPE Gresik Special Economic Zone, has established PT Andalanesa Energi Primer, a joint venture company with BW Group to develop an FSRU project.

Japan’s recent power-generation data pointed to a notable adjustment in the country’s energy mix, with utilities reducing LNG-based generation and increasing coal burn.