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Maritime market update: IEA envisages an increase in use of LNG and biofuels in maritime sector for Net Zero 2050

Home / Shipping News / International Shipping News / Maritime market update: IEA envisages an increase in use of LNG and biofuels in maritime sector for Net Zero 2050 Maritime market update: IEA envisages an increase in use of LNG and biofuels in maritime sector for Net Zero 2050 Risavika LNG has further increased by 7.8 % to 36.83 EUR/MWh week on week following European gas hubs upward trend. Gas prices in Europe were rallying on back of lower LNG sendouts and lower Norwegian flows, while temperatures remain below seasonal norms and storage levels are still at their lowest. The outlook for gas prices is bullish for the coming week.

Maritime market update: expectation of more LNG on high hub prices | Hellenic Shipping News Worldwide

Risavika LNG risen further by 1.9 % to 33.94 EUR/MWh week on week. The European gas hubs remain bullish on demand for storage injection, slowdown of LNG arrivals, colder outlook for rest of May and competing fuels. The temperatures in Northwest Europe were considerably higher seasonal averages during last week but expected to drop below .

Maritime market update: a strong upside for LNG and sideways oil products prices

Maritime market update: a strong upside for LNG and sideways oil products prices Risavika LNG has increased by considerable 9.7 % to 33.29 EUR/MWh from last week as month has changed. Below seasonal norm temperatures, rally of external fuels and carbon price were main drivers for the European gas prices increase for June. Looking ahead, gas demand from storages is projected to be significant this injection season. To reach full storages by the start of the winter season, injection rate should be at least 60 % higher than seen last summer, which will impact summer gas prices. Oil products gained slightly for June contracts compared to the previous month, the market is more optimistic with US refineries ramping up production. Inventory data have also provided positive sentiment, the independently held inventories of oil products in the Amsterdam-Rotterdam-Antwerp (ARA) trading and storage hub have fallen to their lowest since April 2020. Fuel oil stocks fell by more than any other pr

Maritime market update: European gas prices remain supported by storage demand | Hellenic Shipping News Worldwide

Maritime market update: European gas prices remain supported by storage demand Risavika LNG dropped 0.8 % week on week and settled at 28.94 EUR/MWh for May contracts. Bullish sentiment for the European gas prices has eased with weather forecast for the end of April is coming closer to seasonal norms. However, the demand for storage injections keeps prices at high levels. The European natural gas storage inventories started injection season with below the 5-year average levels, meaning that additional 47.3 TWh of natural gas should be injected to the storage during the season. The situation creates a demand for LNG, which will be a subject to a spread between natural gas prices in Asia and Europe this summer.

Maritime market update: LNG and oil products prices on decline | Hellenic Shipping News Worldwide

Maritime market update: LNG and oil products prices on decline | Hellenic Shipping News Worldwide
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