Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
Oct. 16 (Bloomberg) — Short-term liquefied natural gas prices for Northeast Asia jumped by the most since December as buyers sought more cargoes for winter, according to Energy Intelligence Group.
Prices for the power-station fuel for delivery over the next four to eight weeks increased to $16.80 per million British thermal units in the period ended Oct. 14, up from $16.10 a week earlier, the New York-based research company said on the website of its World Gas Intelligence publication. Southwest Europe prices were at $11.80, up from $11.70.
LNG prices are forecast to rise this week, according to traders surveyed by Bloomberg News through Oct. 11. Asian buyers typically increase purchases of spot cargoes from December to March to meet peak heating and power demand during winter in the northern hemisphere.
Producers have tied up most additional output for the rest of the year in short-term or strip deals as well as incremental sales to long-term clients, WGI said.
Some Japanese utilities are still seeking late-November cargoes, bidding “in the low- to mid-$16s,” while Chinese and South Korean buyers will probably be seeking cargoes soon, WGI said.
Angola LNG shipped a partial cargo aboard Soyo to South America yesterday, ahead of planned maintenance that will last about 50 days, WGI said.
– Anna Shiryaevskaya, Copyright 2013 Bloomberg.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,923 members that receive our newsletter.
Have a news tip? Let us know.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign UpMaritime and offshore news trusted by our 105,923 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up