Ocnus.Net
News Before It's News
About us | Ocnus? |

Front Page 
 
 Africa
 
 Analyses
 
 Business
 
 Dark Side
 
 Defence & Arms
 
 Dysfunctions
 
 Editorial
 
 International
 
 Labour
 
 Light Side
 
 Research
Search

Business Last Updated: Jan 11, 2021 - 11:58:55 AM


Record LNG carrier spot rates tipped to extend through Q1
By Sam Chambers, Splash, January 11, 2021
Jan 11, 2021 - 11:57:59 AM

Email this article
 Printer friendly page

The record-breaking LNG carrier spot rate scene is being widely tipped to carry on through the first quarter.

Last week, LNG carrier spot rates hit an all-time high of $200,000 a day, with one fixture at $350,000a day as the Asian JKM LNG price soared to a record $21/MMbtu on extreme winter weather.

“Traders and LNG producers are trying to secure LNG carriers trading in the Atlantic in order to lift cargoes from the US to Asia in the next few weeks as LNG prices remain elevated,” analysts at Jefferies observed in a new report, tipping spot rates to remain “robust” during Q1 as the arb window remains open.

“Amidst the continued cold weather in Asia and delays at the Panama Canal, LNGC spot rates skyrocketed the past week, seeing MEGIs up 34% to $215K, TFDEs +34% to $195k/d and Steam Turbines +63% to $160k/d,” Cleaves Securities pointed out in its latest weekly report published on Sunday.


Source:Ocnus.net 2021

Top of Page

Business
Latest Headlines
China/Brazil sea freight prices soar, almost five times higher than six months ago
Russia’s Looming Year of Predictable Stagnancy
Record LNG carrier spot rates tipped to extend through Q1
Container freight rates from Asia surge to new highs – 'it's gone mad'
The Brexit Boon to Europe and the US
Space on box ships out of Asia now going, going, gone – to the highest bidder
China: The Largely Lethal Long View
African free trade bloc opens for business, but challenges remain
The AfCFTA's Wamkele Mene: ‘It’s going to be difficult but we’ve got to do it’
Lack Of Cooperation Hinders China’s Debt Relief To Africa