Cargo cancellations and low prices sink LNG rates
LNG rates are again on the decline and they are not expected to reverse course anytime soon. Cargo cancellations mean ships are actually free but charterers are holding on tight to them. Meanwhile, imports to Europe continue to grow and land storage is expected to be filled up by August.
Owners may hope that a contango market can bolster LNG floating storage in the autumn. For others, the practical problems undermine the business case
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