Start-up Spark Commodities has seen the first LNG freight swap concluded against one of its assessments.
The company, a joint venture between Kpler and EEX Group-controlled Powernext, said traders Glencore and Socar Trading executed the LNG freight swap against against Spark Commodities’ Spark25 Pacific based assessment in a bilateral trade arranged by Affinity Financial Products.
The Spark25 contract, which is assessed by active LNG shipbrokers provides a time charter equivalent for spot vessels delivered in the Pacific with a notional route between Australia's North West Shelf project and Tianjin, China.
