Traders toy with LNG storage as cargoes and ships emerge

A number of LNG carriers have been taken on charter for several months, with the market expectation that they may be used for storage plays.

Brokers have highlighted Glencore’s fixture of TMS Cardiff Gas’s 160,000-cbm newbuilding Corcovado LNG for a six-month period at $48,000 per day for delivery at Nigeria’s Bonny LNG terminal in September.

Similarly, German trader E.ON took Cardiff’s second speculatively ordered, 159,800-cbm newbuilding, Kita LNG, ex-yard at $42,000 per day for a three-month period, with two optional periods of 30 days at slightly higher daily levels of $46,000 and $48,000.

Brokers