Nov-Jan contango for JKM benchmark as wide as $7/MMBtu Charterers have been taking up tonnage since mid-2022 Storage demand drives up spot LNG freight rates to record highs The number of LNG carriers being used as floating storage globally has hit a record high as oil majors, commodity traders and other energy companies hold onto LNG cargoes and vessels ahead of peak winter season, according to shipping data and shipbrokers. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The accumulation of a large number of laden LNG carriers without a fixed destination is underpinned by several market fundamentals – the steep contango between November and January that could yield a profit, regions like Europe and North Asia entering early winter with strong inventories and the possibility of a surge in demand in the event of a spell of cold weather. The Ukraine crisis has […]