US LNG for Hokkaido
Hokkaido Electric Power, the Japanese utility, said it received its first US LNG cargo delivered to the Ishikariwan Shinko Power Plant. The shipment originated at Freeport LNG in Texas and was based on a spot sales contract concluded between Hokkaido Electric and the largest Japanese LNG trader, JERA Global Markets. The shipment was delivered by the 177,000 cubic metres capac- ity LNG carrier “Shinshu Maru”, owned by Trans-Pacific Shipping, a joint venture comprising JERA and Nippon Yusen Kabushiki Kaisha (NYK Line).
Burckhardt bond sale
Burckhardt Compression, the Swiss LNG equipment maker for the maritime market, said it suc- cessfully issued a bond valued at 100 million Swiss francs ($108.5M) on Switzerland’s capital market. “The bond is primarily intended to finance the recently announced acquisition of the remaining 40 percent stake in Shenyang Yuanda Compressor, based in Shenyang, China,” said the company. Burck- hardt’s bond has a maturity of four years and a coupon of 1.50 percent. The issue was managed by Zürcher Kantonalbank.
Spot charter rates rise
Shipping charter rates for LNG carriers in the spot market increased over the past week by around $7,000 per day. Rates were quoted at an average of between $59,000 per day and $61,000 per day West of Suez and at rates of between $56,5000 per day and $58,500 per day East of Suez for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charter rates were little changed for the most modern vessels and were seen at around $47,000 per day.