(Bloomberg) — A lack of cargoes is limiting the market to ship liquefied natural gas as production needs to resume in Nigeria and start in Angola for rates to increase, according to RS Platou Markets AS.
A force majeure declaration in Nigeria cut demand for 10 vessels, Egypt is reducing cargoes to eight this year from as many as 70, and maintenance in Norway is removing about 70 more cargoes a year, Herman Hildan, an Oslo-based analyst at the investment-banking unit of Norway’s largest shipbroker, said in an e-mailed report today. A new facility in Angola expected to supply as many as 90 cargoes a year is delayed, with the seven vessels dedicated to the project adding to competition for spot cargoes, he said.
“Low cargo availability is dampening the spot market currently,” Hildan said. “High global gas price spreads strongly incentivize inter-basin trade, however, for spot market LNG rates to strengthen we believe the key is normalization of Nigerian production by mid-March as some industry sources expect and successful startup in Angola during the summer.”
Beyond this year, exports from the U.S. may require as many as 200 more vessels, compared with the current fleet of 380, according to the report. The U.S. Department of Energy is considering 16 applications to export LNG equal to 50 percent of current annual trade, Platou estimates. A December study showed exports would benefit the economy, and the government said it would decide on the applications after taking responses through Feb. 25, Hildan said in the report.
Major General Mikhail Gudkov, deputy head of the Russian Navy who was praised and promoted by President Vladimir Putin, has been killed in action, depriving Moscow of one of its most senior officers, the Russian military said on Thursday.
In one of the UK’s largest drug seizures of the past decade, UK Border Force officers have seized cocaine with an estimated street value of £96 million (USD 130 million)...
(Bloomberg) — Shell Plc has started exports from Canada’s first liquefied natural gas project, helping to meet rising Asian demand and extending its position in the global LNG market. The first...
July 1, 2025
Total Views: 858
Get The Industry’s Go-To News
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
— just like 109,107 professionals
Secure Your Spot
on the gCaptain Crew
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
— trusted by our 109,107 members
Your Gateway to the Maritime World!
Essential news coupled with the finest maritime content sourced from across the globe.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.