LNG Update; Huge Winter Storm For US Next Week? -- January 9, 2021

Updates

January 12, 2021: Argus reported that BP has just employed the ship LNG Abalamabie for $350,000 per day. That makes it the most expensive vessel charter in maritime history, surpassing the $300,000-per-day peak previously recorded in the very large crude carrier (VLCC) segment. Link here. 

Original Post

I saw "the story" on LNG yesterday but I was too exhausted to post it and forgot all about it. In addition, not having some comparative data readily available I did not note the magnitude of some of the data. 

Fortunately a reader wrote me late last night providing me the data I wish I had posted earlier. A huge "thank you" to the reader:

Quick followup to your LNG posts, with some emphasis.

The JKM price (North Asia), was a record ~$20/mmbtu yesterday and jumped to ~$35 today.

Daily spot charters for LNG carriers is at a nosebleed ~$165,000/day,  when $100, 000/day is high.

BP just chartered a Nigerian flagged carrier for a preposterously high $350,000/day.

Virtually every shipment now on the water is heading to Asia, which will draw down European storage significantly in the coming months.

US LNG exports should remain strong through the summer to restock Europe, BUT, there may actually be cancellations from US LNG facilities in February as there seems to be  virtually no ships available for transport.

Amazing what a little cold weather can do.

See posts regarding record snow in Spain and record cold in Asia.

 

In addition, there is now a report out that the weekend of January 18th or thereabouts could record a record cold spell for much of the US.