LNG

Price plunge forces cargoes held off Singapore to head elsewhere

Companies holding LNG cargoes offshore Singapore have been caught out this week as prices have plunged to multi-month lows
By Staff reporter 5 December 2018 0 33568

Companies holding LNG cargoes offshore Singapore in the hope that prices would surge going into the winter have been caught out this week as prices have plunged to multi-month lows, according to Reuters.

At least nine cargoes will now head to China, Japan and South Korea after having held position off Singapore, Malaysia or southern China for up to two months.

Data from Reuters’ financial and risk service Refinitiv shows that at least five laden LNG tankers are still in...