The current LNG market is markedly different from the past but although the previous model of dedicated contracts and single markets provided security this has been also been maintained in the new world of shorter term contracts and spot trades...
MISC petroleum tanker unit AET has sealed a long-term charter for its two newbuild LNG dual-fuelled Aframax tankers with Shell International Trading and Shipping Company.
Shell is warning of a shortage of LNG by the middle of the next decade as buyers seek shorter-term contracts, but suppliers continue to seek long-term sales to secure finance for project development.
Singapore has charged 11 with stealing SGD2.4m ($1.79m) in gas oil from Shell's Palau Bukom refinery transferring the oil to a tanker bound for Vietnam.