HOME

Track your shipment

Client Testimonials

"We wish to convey our sincere thanks to your organization which has been professionally handling our biz since 2003. We would like to take this opportunity to thank everyone of your staff members who supported and helped us during the hard times and gave us workable solutions and ideas to reach our business objectives. Al Rana Equipment & Machinery Trading Eng. Bassam Nowfat - Managing Director"

Al Rana Equipment & Machinery Trading,
View All

Subscribe To NewsLetter

Stay Updated with the latest news & Events and other activities

Subscribe Me !

News View

ASIAN LNG PRICE DROPS AS FLOATING STORAGE STARTS UNLOADING
11/1/2019 12:00:00 AM

Asian spot prices for liquefied natural gas (LNG) slumped this week as floating storage cargoes started unloading into an already oversupplied market.

The average LNG price for December delivery into northeast Asia LNG-AS was estimated at $5.90 per million British thermal units (mmBtu), $0.40/mmbtu down from last week.

Vessels floating with cargoes on board waiting for a higher price have started discharging, with most of the volumes expected to be unloaded this month.

Floating cargoes were unloaded this week in Greece, Poland, Spain, the Netherlands, India and Japan.

Some of the longest floaters are heading to terminals for unloading now. The Diamond Gas Sakura that loaded a U.S. cargo back in mid-August signalled Taiwan’s Yongan as its destination this week.

The majority of the still floating cargoes is scheduled to reach various terminals in early November, while at least nine vessels are either not moving or do not have a confirmed destination yet.

Thanks