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LNG on Water for 20 Days Edges Lower

LNG

The total estimated quantity of LNG on tankers that have not unloaded for at least 20 days declined by 3.8% last week to 3.5mn tons as of 7 April, according to Bloomberg estimates.

  • Volumes are 39% higher on the year and 116% above the 2019-2023 average.
  • After departing Freeport LNG in early February, SK E&S-chartered LNG vessel Prism Agility urned away from South Korea and is due to unload at Zhoushan terminal in East China. LNG carrier Seapeak Vancouver, chartered by Petrobras, has been drifting off the coast of northeast Brazil since the second half of February.
  • The estimated quantity of LNG on tankers that have not unloaded for at least 30 days also decreased to 1.573mn tons as of 7 April, down from 1.73mn tons a week earlier.



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