Floating Storage for LNG Surges With More Ships From Qatar - Bloomberg:
The number of liquefied natural gas tankers identified as floating storage appears to be peaking, tightening the market for shipping and adding to a supply overhang.
The phenomenon happens when LNG tankers loaded with cargoes either travel slower than usual to their destination or wait at sea for a buyer.
The most recent episode can be traced back to Qatar’s decision to send out more ships ahead of maintenance work on its facilities. The result is making it more expensive for traders to charter a vessel on the prompt market in the Atlantic basin, replicating a similar bout of floating storage in Asia last year.
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