July LNG Floating Storage Boosted by Wider Price Contango & High Inventories

Steady rise of floating LNG carriers with over 25 LNG ships in the week starting July 12.
Traders and portfolio participants take advantage of widening LNG contango market structure.
The September-October JKM Derivatives contango structure was assessed at 62.5 cents/MMBtu on July 14 with spot charter rates around $30,000/d.
Contracted LNG volumes sellers provided operational flexibility to their term buyers grappling with high inventories.
End-users in Japan, South Korea and China experienced...