Rates to ship liquefied natural gas are gaining as the gap between prices in Europe and Asia is set to widen throughout the winter.
A vessel was booked for 60 to 80 days at a daily cost of $120,000, according to Fearnley LNG, a shipbroker in Oslo. Asian prices for the fuel exceed $17 per million British thermal units and will stay high until winter demand ends, Rikard Vabo, an analyst at investment bank Fearnley Securities, said in an e- mailed report today.
Daily rates now at $124,000 will extend gains through February, Erik Nikolai Stavseth, an analyst at Arctic Securities ASA in Oslo, said in an e-mailed report. Traders are looking to charter the remaining ships available in the Atlantic region, while a lack of production outages also helps to keep the fleet busy, Fearnley’s Vabo said.
– Isaac Arnsdorf, Copyright 2013 Bloomberg.
Image (c) Shutterstock/Oleksandr Kalinichenko
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Polish Prime Minister Donald Tusk warned on Thursday that the Baltic Sea is becoming “a new area of confrontation” with Russia, putting the country’s critical infrastructure increasingly at risk.
North Korea has begun a full-scale investigation into the accident that occurred during the launch of a warship this week, state media KCNA reported on Friday.
A major accident occurred on Wednesday during the launch of a new North Korean warship while Kim Jong Un was attending the event, with the isolated state's leader calling it a "criminal act" that could not be tolerated, state media KCNA reported.
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