Turning to Slide 5 and the partnership's financial results for the first quarter of 2023. June 13 (Reuters) - Spot-market rates for liquefied natural gas (LNG) tankers this week set annual records as traders bid up available vessels to meet rising global demand for the chilled gas, according to brokers. Shell booked an LNG carrier for $400k per day, likely the most expensive ever for the Atlantic basin. googletag.cmd.push(function() { A colder than average winter in northeast Asia, considering the La Nia forecast, could add further pressure on LNG spot charter rates, And this highlights very well the infrastructure and flexibility constraints which have been unveiled by the current gas&energy crisis the supply flexibility of the global gas system has been exhausted this year, which means that demand flexibility will be key in the upcoming heating season. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. window.googletag = window.googletag || {cmd: []}; You can access the latest assessments for five of our key LNG freight rates with our complimentary newsletter, delivered direct to your inbox weekly. Both prices are up substantially compared to the average for the year, with year-date average for Asia of $49,000 per day. "There has been a substantial increase in long-term charters," said Feer, taking capacity off the spot market. googletag.pubads().collapseEmptyDivs(); About half of the new-build orders for commercial vessels are for ships equipped with dual fuel engines - either LNG or methanol - with oil, he added. Please upload a smaller file. Rates then rebounded, with the most fuel-efficient models with MEGI or XDF propulsion back to $100,000 per day by May. Compared to a year ago, the procurement rate is about 25.8% lower (58.143 /therm) than what it was effective April 2022. By signing up, I agree to ourTOSandPrivacy Policy. They also said that without a plan to have safe truck parking with electric plugs and hourly pay and overtime truck driver turnover would remain high. By clicking Accept, you consent to the use of ALL the cookies. After graduating Cornell University, he fled upstate New York's harsh winters for the island of St. Thomas, where he rose to editor-in-chief of the Virgin Islands Business Journal. After graduating Cornell University, he fled upstate New York's harsh winters for the island of St. Thomas, where he rose to editor-in-chief of the Virgin Islands Business Journal. SIGN UP to receive our weekly newsletter with new LNG market reports, presentations & analysis. 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. The price of a newbuild MEGI LNG carrier was around $180 million last year. Weekly newsletter each Wednesday more info. Please, TotalEnergies To Buy LNG From ADNOC In $1B Deal, Libyas Natural Gas Exports Set To Slump Due To Maintenance, Oil Prices Fall On Disappointing Manufacturing Data, U.S. Administration Set To Delay Decision On Biofuel Credits For EVs, Totals CEO Blames Stock Discount On European Listing, Oil Prices Start The Week Lower As Bearish Sentiment Builds, ADNOC Natural Gas IPO Marks Big Quarter For The UAE, New York Soon To Become First State To Ban Natural Gas Hookups In New Buildings, Europe's Largest Gas Producer Is Set To Nationalize Its Gas Pipelines, U.S. House To Vote To Repeal Bidens Solar Panel Tariff Waivers, Chevron Beats Profit Estimates As Refining Margins Jump, Exxon Posts Record Q1 Earnings Beating Forecasts, U.S. Venture Global Signs 20-Year Deal To Supply LNG To Japan, Russia Looks for Ways To Boost Oil Income, Senators Call For Seizure Of Iran Oil Cargos, Germany Doubles Down On LNG Fearing Another Gas Pipeline Attack, Valero Q1 Earnings Exceed Forecasts As Refining Margins Jump, Tanker Carrying Oil For Chevron Seized By Iran, Oil Ticks Up as Russias Novak Says No More OPEC+ Cuts Needed, Exxon Looks To Recoup Investment As Colombia Prepares To Ban Fracking. It is mandatory to procure user consent prior to running these cookies on your website. googletag.cmd.push(function() { Daily Newspaper published by GPPC Doha, Qatar. Revenues for the first quarter were $99 million, a 15.9% increase from the first quarter of 2022. Canada says they will be shipping green hydrogen to Germany by 2025. var write_html = `