World News
First Drop in LNG Trading for 30 Years
Global trade in liquefied natural gas (LNG) dropped last year for the first time in three decades, The Financial Times reports, citing the "BP Statistical Review of World Energy 2013."
The drop, to 239 million tonnes in 2012 from 242 million tonnes in 2011, came after sharp increases in 2009 and 2010.
The reduction in LNG trade resulted partly from lower demand in Europe as the continent's economy dragged and plants shifted toward burning coal to take advantage of growing U.S. exports.
Supply of the fuel also slowed in 2012 as some projects were delayed and others suffered outages or closed temporarily for maintenance.
In the long term, however, new importers and exporters of the fuel are joining the world market, with nations including Pakistan, El Salvador, Uruguay, South Africa, Bahrain, Croatia, the Philippines, Jamaica, and Lithuania planning import terminals.
At the same time, the U.S., Australia, Angola, and other nations are planning new export terminals.
The shifting market for LNG has drawn new players into LNG trading, which include Gencore Xstrata.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 509.00 | 4.50 | 623.00 | 3.00 |
| Rotterdam | 463.00 | 7.00 | 623.50 | 2.00 |
| Houston | 471.50 | 4.50 | 627.50 | 3.50 |
| Fujairah | 501.00 | 4.50 | 714.00 | 1.00 |
| Global 20 Ports Average | 529.00 | 2.50 | 714.50 | 2.50 |
| Global 4 Ports Average | 486.00 | 3.00 | 647.00 | 2.50 |
| Global Average Bunker Price | 572.50 | 2.00 | 753.00 | 2.00 |
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