Free Trial
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
LNG charter rates climb as steep contango makes LNG in floating storage more profitable according to Timera Energy.
- The steep contango is enabling LNG cargoes to be held at sea until higher priced winter contracts.
- The shift is reflected in LNG freight rates, with the Spark Atlantic spot freight assessment (30S, 160 TFDE) rising $66 k/day (+ 87%) since the beginning of August.
- Freight rates typically follow a seasonal pattern to reach a peak in Q4 but the rally this year has started earlier than usual with low availability of conventional European storage flexibility in September.
- The build of cargoes on the water is expected to subdue European LNG deliveries over September and October, and could support record deliveries in November, particularly given the expansion of European regasification capacity. This provides some mitigation against potential upward price pressure in case of an early onset of cold weather this winter according to Timera.
- LNG volume at sea is up to the highest since May at 2.927m according to Bloomberg.
Source: Timera Energy
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok