A Small Shift in the LNG Market May Mean a Big Boost for Ship Owners

Bloomberg Quint | May 17, 2019 at 9:49 AM
  • With so much cheap liquefied natural gas around, traders are again looking at tankers to store the fuel in the hope of better prices.
  • How much profit can actually be made is strongly dependent on the cost of renting a tanker and of keeping the fuel in liquid form at minus 162 degrees Celsius (minus 260 degrees Fahrenheit).
  • In 2018, Cheniere Energy Inc., which mainly trades the U.S. LNG it produces as well as some volumes purchased from the market, chartered out some ships and benefited from record-high shipping rates for vessels on the spot market when some parties were using the ships as floating storage.