Oil Market Snapshot - April 2015
Brent rallied to $63.98 on 29th April on signs that US LTO production is slowing and the OECD demand is recovering more quickly; We forecast a Brent average of $57.56/bbl for 2015 (-$1.90 compared to March), while 2016 is cut to $75.05/bbl (-$0.30) on continued OPEC production this year.LNG Market Snapshot - April 2015
The global active LNGC fleet grew to 401 vessels, up by two m-o-m; 32 more vessels scheduled for delivery in 2015; General vessel oversupply maintains pressure on spot charter rates ($24- 30,000/day, down by up to 14% m-o-m).LNG Market Snapshot
The global LNGC fleet and order book now stand at 399 and 144 vessels, respectively. The order book to fleet ratio thus edged up by 3 percentage points to 36% compared to January 2015. The majority of the current order book remains based on firm charters, with 67 vessels (47%) likely to operate on routes between Australia, Malaysia and Indonesia, and JKT buyers. The number of speculative orders now stands at 37 vessels (26%) whilst our estimate of the number of options placed is 23 (16%) of the order book. Only 16 vessels (11%) appear to be earmarked for the Atlantic Basin. Current market visibility suggests that JKT buyers are not yet planning to acquire spot cargoes of LNG.
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