The UP World LNG Shipping Index (UPI) fell by 3.54% last week, outpacing the S&P 500’s 0.96% decline. A recovery in Asian LNG demand was overshadowed by a significant drop in spot charter rates, hitting below break-even levels. This situation is particularly harsh for operators without long-term contracts, pushing some towards potential asset sales. Almost all companies in the index faced declines, with notable drops for Awilco LNG, Exmar, and Tsakos Energy Navigation. Meanwhile, the only...
https://mfame.guru/asian-lng-demand-recovers-but-spot-charter-rates-spell-trouble-for-shippers/