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What's wrong with storing it on a ship? Anchor it and pay a skeleton crew to keep it operational.
by labrador 4y ago
What's wrong with storing it on a ship? Anchor it and pay a skeleton crew to keep it operational.
- netrus 4y agoI cannot imagine a happier person right now than the owner of a LNG tanker. Sure, using it as a dumb storage is a good business, but it's sure a better business to move the ship around to do arbitrage between gas markets with crazily different prices.
- kgwgk 4y agoThat you cannot conjure a gas tanker ship -and the required infrastructure- out of thin air.
- labrador 4y agoThey arrived full of gas with nowhere to offload. Those ships are what I'm suggesting wait until offloading is possible.
- kgwgk 4y agoGas is also transported by other means. I imagine those ships are not selling their load at negative spot price. What is “wrong” with waiting is that you’re losing money instead of being making money.
- Denvercoder9 4y agoThose ships most likely sold their load of gas before they even set sail.
- balderdash 4y agoNothing wrong with that, except the day $100-200k/day you’re paying for charter…
- labrador 4y agoI think Germans can afford it and are willing to pay it to keep their economy going
- ajross 4y agoIf there were empty ships that could be filled, then clearly prices wouldn't have gone negative. Surely that reservoir is filled already (or the ships are empty and enroute to gas terminals, and thus already accounted for, etc...)
- fomine3 4y agoIt will vaporize, I don't know how much