LNG

Brownsville contract

NextDecade Corp., developer of the Rio Grande LNG export project in Texas, said that after a competitive bid and contracting process it had selected Great Lakes Dredge and Dock Corp. to perform improvements near its planned facility on the Brownsville Ship Channel. “These improvements, which include deepening the Channel, will enhance commercial navigation into and out of the Port of Brownsville, ensuring the safe and reliable access of LNG carriers to NextDecade’s Rio Grande LNG facility and optimizing the ability of shallower draft traffic to pass LNG carriers in either direction in accordance with US Coast Guard guidelines,” the company explained.

Saudi Aramco bond sale

The Saudi Arabian Oil Company, the world’s biggest oil industry operator with future LNG and natural gas plans, is planning to offer around $6 billion of bonds following a $12Bln bond sale in April 2019 that sparked buying orders of over $100Bln, mostly from US fund managers and making it the most over-subscribed bond sale in history.

Charter rates flat

Shipping charter rates for LNG carriers in the spot market were unchanged in the past week as the Northern Hemisphere winter market demand continued to be firm. Rates were quoted at an average of between $109,000 per day and $115,000 per day West of Suez. The same levels of spot rates were also heard for the East of Suez charter market for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers.