Ports and Shipping - Tankers: is LNG the new oil?

Byline: S. KAMAL HAYDER KAZMI

LNG shipping rates are headed for higher ground over the summer, as LNG demand is expected to keep growing. In its latest weekly report, shipbroker said that "due to sluggish demand and massive inventories, spot LNG prices in Asia plummeted to a two-year low, while prices in Europe also declined below the $10 mark against a backdrop of healthy inventories, which are hovering above the 5-year average, and subdued demand for more supplies. According to the IEA's latest quarterly...