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Supply tightness prompts upgrade on forecast LNG shipping rates

Platts Analytics has lifted its projections on LNG shipping day rates by about $13,300 for the next three months, citing tight supply arising from high floating storage in Europe and potentially slow-steaming of ships delivering cargoes to Asia. Arbitrage trades, with leading Asian importers taking in more cargoes, have also bolstered spot rates especially

A sharp contango is developing and shipping players are now motivated to move ships onto the water as quickly as possible, says Platts Analytics

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