Shipping

Sonatrach
22.10.2020 kl 14:58 4440

TW:

Fearnley LNG put its rate estimates for ME-GI and X-DF tonnage up to $105,000 per day in the Atlantic and $100,000 per day in the east, a weekly rise of $25,000. The unit of shipbroker Fearnleys base its report figures on concluded charters.
The LNG market was alive with chartering chatter Thursday.

Brokers spoke about vessels offers in $150,000 per day range being submitted for charter business floated by Indian Oil.
Chartering sources said levels for tri-fuel diesel-electric ships are now "definitely past $80,000 per day" mark with questions being asked about how high they might go.

Talk was also circulating of $80,000 per day being discussed on a steam turbine vessel. Fearnleys pegged steam ship daily rates at $60,000 across both basins.
Brokers said there are just one of two vessels currently open in the Atlantic with what one described as "a handful" in the east.
One said rates have surged $30,000 to $40,000 in a week.
LNG players TradeWinds spoke to were clearly busy and upbeat.
The market was described as "frisky" by one and "red hot" by another.

Most put the heightened action and rate uptick down to the improved LNG prices in the east which is pulling cargoes longer haul and soaking up tonnage.
The news that there will likely be no cargo cancellations from the US in December was also fuelling the positive mood. Cancellations started in May as the pandemic kicked in, climbing to 45 in both July and August before slowly tailing off.
Talk of an impending cold winter was adding to the sentiment.

But some players cautioned that the market could still prove volatile, particularly if traders optimise and sell into Europe or further Covid-19 demand shocks disrupt the demand picture.

One broker said that charterers with relet tonnage are trying to cash in on the roaring rates by offering their vessels out on multi-month deals. But with the 2021 picture unclear there are few takers at the high levels they are asking.
"Everyone is having a bit of a party at the moment," she said, "but how many ships get done is another matter."
Redigert 21.01.2021 kl 05:26

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