Four U.S. LNG Cargoes Diverted from Asia towards Europe

Four U.S. LNG Cargoes Diverted from Asia towards Europe

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Intra-basin LNG trade in the Atlantic is becoming increasingly prominent following the recent fall in JKM levels. As the USG-FE cargo arbitrage continues to collapse, more vessels laden with U.S. cargoes are now headed towards Europe.

According to Kpler, four ex-USGC vessels have changed their trajectory in the middle of the Atlantic Ocean in the last two weeks alone – diverting from their intended delivery at Asia towards Europe instead.

• BW Magnolia and Singapore Energy diverted from Suez Canal to Grain and Gate respectively
• Gaslog Georgetown and Qogir diverted from South Atlantic (CoGH) towards Milford Haven and Dunkerque respectively

The trend is expected to continue as we approach March. Ahead of the Lunar New Year holidays in mid-Feb, Chinese companies will soon be inactive from buying prompt delivery cargoes in the market.

Source: Rebecca Chia, Kpler

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