Qatar keeping 8 LNG tankers idle—report
Qatar, the world’s leading producer of liquefied natural gas (LNG), is reportedly idling at least eight tankers in the Gulf of Oman, because prices for year-end delivery exceed those for next month by 20 per cent— the widest margin since October.
The Qatari Liquefied Gas Company vessels have a combined capacity of 1.8 million cubic metres, enough to supply the UK for more than a month. The ships are off the UAE, and their depth in the water indicates they have full or partial cargoes, reports say.
The eight ships idled are Al Mafyar, Al Dafna, Al Bahiya, Al Sheehaniya, Onaiza, Al Samriya, Al Ghashamiya and Al Rekayyat. There may be as many as 15 tankers storing cargoes for Qatar off the UAE, according to Mr Keith Bainbridge, a partner at shipbrokers RS Platou LLP here.
The ships need to burn 35 to 50 tonnes of marine fuel a day to preserve the cargo, according to Mr Bainbridge. Fuel costs $ 432.50 a tonne in the UAE, implying a daily expense of as much as $ 21,625 per ship.
Source : Exim News Service - London, June 10