Switzerland

Cyclone Idai batters Mozambique coastal city

Swissinfo | Mar 15, 2019 at 7:00 AM
  • A powerful tropical storm made landfall in Mozambique on Thursday evening, battering a coastal town with heavy rain and wind at speeds of up to up 170 km an hour.
  • The Mozambican government’s emergency services has yet to give an update on the situation.
  • Whole cities were left without access to clean water, sanitation or electricity.

United States

Asian LNG prices dip to 3-year seasonal low

Reuters | Mar 15, 2019 at 5:45 AM
  • Asian spot prices for liquefied natural gas (LNG) this week fell to their lowest for this time of the year since 2016 as more supply entered the market from Egypt and Australia, with the lower prices attracting Indian demand.
  • The continued drop in prices has been attracting buying interest from India.
  • The tradable price level in Europe is at a discount of around 20 cents per mmBtu to the Dutch price.

United States

Asian LNG prices dip to 3-year seasonal low

CNBC | Mar 15, 2019 at 5:45 AM
  • Asian spot prices for liquefied natural gas (LNG) this week fell to their lowest for this time of the year since 2016 as more supply entered the market from Egypt and Australia, with the lower prices attracting Indian demand.
  • The continued drop in prices has been attracting buying interest from India.
  • The tradable price level in Europe is at a discount of around 20 cents per mmBtu to the Dutch price.

India

LNG Slump Seen Close to End as Price Collapse Stimulates Demand

Bloomberg Quint | Mar 15, 2019 at 12:00 AM
  • Liquefied natural gas prices may be about to hit the bottom after losing more than a third of their value this year.
  • Prices are still dropping because more spot cargoes are entering the market and buyers in Japan, South Korea and China — the biggest users — are holding off from purchases.
  • Emirates National Oil Co. was seeking four cargoes for delivery to India between April and July.

Greece

Tighter Panama Canal draft restrictions could hit Aframaxes, LR2 transit

Hellenic Shipping News | Mar 15, 2019 at 12:00 AM
  • For dry bulk, Neopanamax and Capesize ships cannot transit the canal at a 47-foot (14.33-meter) draft, as they require maximum drafts of 15 meters and 20 meters, respectively.
  • Clean Medium Range and Long Range 1 tankers, dirty Panamax tankers and all LNG tanker classes can transit fully laden at the restricted 47-foot (14.33 meter) draft.
  • Handysize, Supramax and Ultramax, and Panamax size dry bulk carriers, with maximum drafts of 10 meters, 11 meters and 12 meters, respectively, will be able to pass through the restricted 14.33-meter maximum draft.

United States

Egypt returns to LNG exports club seeking to sell cargoes

World Oil | Mar 15, 2019 at 12:00 AM
  • Egypt indicated it’s ready to rejoin the club of major exporters of liquefied natural gas, making its biggest offer to supply the market in at least five years.
  • For Egypt, the tender marks a revitalizing of its gas industry, where sagging domestic production forced it to halt most exports of LNG in 2014.
  • The North African nation has regained self-sufficiency with the help of major discoveries including the giant Zohr gas field.

Netherlands

EGAS floats tender selling four LNG cargoes

LNG World News | Mar 15, 2019 at 12:00 AM
  • Egyptian Natural Gas Holding Company (EGAS) has lined up four cargoes of liquefied natural gas cargoes for sale.
  • The tender is scheduled to close on March 18 with the winners to be known on March 21.
  • Liquefied natural gas exports from Egypt have been rising recently with five LNG carriers already departing in March, the highest number of cargoes exported since April 2013.

Greece

Korean shipbuilding merger hits headwinds

Hellenic Shipping News | Mar 15, 2019 at 12:00 AM
  • In the land of giants, a true colossus is set to rise.
  • South Korean firms, notably its “Big Three” – HHI, DMSE and Samsung Heavy Industries, or SHI – are noted for their high technologies, speed of delivery and quality execution.
  • Since the collapse of Daewoo Group, the company has received multiple state bailouts totaling a whopping 12 trillion won, or $10.6 billion.