4 ms·
The $2 Bln quote could be historical but in real time live spot prices at the present, the rates cratered momentarily to zero or even negative territories.
by FerociousTimes 4y ago
The $2 Bln quote could be historical but in real time live spot prices at the present, the rates cratered momentarily to zero or even negative territories.
- hef19898 4y agoLuckily, LNG ships can simply be parked at sea until prices rise again, same for oil tankers. Pipelines going into almost full storage don't have that luxury.
- jandrese 4y agoIt costs money every day to leave the ships parked and idle, but in some ways it is a good thing. Those ships are basically extra storage in the event of a long cold winter that stresses the natural gas supply harder than expected. They offer flexibility to deal with pipeline shortages.
- hef19898 4y agoThe costs of having those tankers parked is orders of magnitude less then the value of their cargo and potential profits.