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LNG
Two LNG vessels appear to be circling off Europe, but it is too early to call them a winter storage play according to ICIS.
- The Prism Brilliance from the US has spent a week circling off northwest Spain, while Diamond Gas Crystal dropped speed the last few days to linger east of the Azores.
- These ships circling may be more related to logistical issues and schedules than an attempt to make a "floating storage" play ICIS analyst Alex Froley said.
- Prism Brilliance is signalling it will go to Eemshaven in the Netherlands on 25 August and maybe just has to wait for its scheduled delivery slot.
- Floating storage numbers often build up across September and October ahead of peak winter demand.
Source: ICIS
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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