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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
LNG
A record 24 US LNG cargoes, carrying 1.6mn tons of LNG, have been shipped to Asia via the Cape of Good Hope in March as of 27 March, S&P Global Commodity Insights data showed, due to Red Sea tensions and drought restrictions at the Panama Canal.
- Platts assessed the Gulf Coast Marker for US FOB cargoes loading 30-60 days forward at $7.87/MMBtu March 27, up 16 cents/MMBtu on the day.
- LNG shippers have increasingly used the Cape of Good Hope route since mid-2023, as drought restrictions hindered tankers to pass the Panama Canal, while Houthi rebel attacks on vessels caused shippers to halt voyages via the Red Sea since mid January.
- 14 US LNG cargoes have been shipped to Asia via the Panama Canal so far this year, compared with 40 cargoes during the same period last year.
- Seven US LNG cargoes reached Asia via the Suez Canal so far this year, with all cargoes delivered in January. This compares to 26 cargos during the first quarter of last year.
- US LNG exports are currently more profitable to Asia during May-September according to BNEF from 27 March.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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