| SHIPPING RATES & BUNKERS ( 10:30am ET ) Spot TCE earnings for vessels using compliant fuel (no scrubbers) | |||
| DIRTY TANKER (KT - $/day) | VOYAGE | SPOT TCE EARNINGS | 2020 AVG. RATE |
| VLCC, 270 | AG-FE | 20,400 | 48,100 |
| Suezmax, 130 | WAF-UKC | 23,600 | 42,600 |
| Aframax, 70 | CAR-USG | 29,900 | 71,200 |
| Panamax, 50 | CAR-USG | 41,000 | 54,600 |
| CLEAN TANKER (KT - $/day) | VOYAGE | SPOT TCE EARNINGS | 2020 AVG. RATE |
| MR, 37 | UKC-USAC | 18,700 | 18,700 |
| MR, 38 | USG-UKC | 7,300 | 14,200 |
| LR1, 55 | AG-FE | 11,100 | 10,800 |
| LR2, 75 | AG-FE | 20,100 | 16,100 |
| TIME CHARTER (KDWT) | 1YR ECO RATE ($/day) | NEWBUILD PRICE ($M ) | SECONDHAND 5YR PRICE ($M) |
| VLCC , 200+ | 39,000 | 92.0 | 76.5 |
| Suezmax, 130-200 | 33,500 | 61.0 | 53.0 |
| Aframax, 80-130 | 25,500 | 51.0 | 41.0 |
| LR2, 80-130 | 25,000 | 53.0 | 43.0 |
| LR1, 60-80 | 19,500 | 43.0 | 33.0 |
| MR, 42-60 | 17,000 | 35.0 | 30.0 |
| Handymax. 30-42 | 16,500 | 33.0 | 24.0 |
| US FLAG (KT - $/day) | VOYAGE | WEEKLY SPOT RATE | 2020 AVG. RATE |
| Handy, 38 | USG-USAC | 69,914 | 69,112 |
| LNG ($/day) as of 21-Feb-2020 | WEEKLY SPOT RATE | CURRENT MONTH RATE | 2020 AVG. RATE |
| 160M3 Tri-fuel diesel electric (West) | 43,000 | 52,667 | 74,750 |
| 138-150M3 Steam turbine (West) | 33,000 | 40,000 | 58,625 |
| 160M3 Tri-fuel diesel electric (East) | 40,000 | 48,333 | 66,250 |
| 138-150M3 Steam turbine (East) | 30,000 | 36,000 | 51,000 |
| LPG (KT) | SPOT RATE ($/mt) | SPOT TCE RATE ($/day) | |
| VLGC, 44 (AG-Japan) | 65.58 | 48,897 | |
| BUNKERS ($/mt) | VLFSO | HSFO | MGO |
| US Gulf | 495.0 | 350.5 | 594.5 |
| Rotterdam | 444.5 | 294.5 | 537 |
| Singapore | 481.5 | 318.0 | 524.5 |
ENERGY NEWS
U.S. crude drops below $50 as virus spreads in Middle East and Europe
U.S. crude dropped below $50 on Wednesday to its lowest since January 2019, as Asia, Europe and oil-producing countries in the Middle East reported hundreds of new coronavirus cases and the United States warned of an inevitable pandemic.
Shandong Port Group invests $3bn in terminal facilities.
Port operator Shandong Port Group in North China is to inves RMB21bn ($3bn) in port facilities construction at Qingdao port, Rizhao port, Yantai port and Bohai Bay ports.
Japan Will Remain A Key Market For U.S. Liquefied Natural Gas
Japan has been the world’s largest liquefied natural gas (LNG) importer for a very long time. Since U.S. LNG exports from shale started in February 2016, Japan has been its third largest importer, after South Korea and Mexico.
Russia inks ambitious plans for Northern Sea Route navigation.
Russia has inked ambitious plans to open up the Northern Sea Route (NSR) for year-round navigation from 2025 — but with fossil fuels underpinning exports from the region, questions are being asked about the sustainability of its plans.
| COMMODITIES, (8:30 am CT ) | ||||
| CRUDE | SOURCE | UNIT | LAST PRICE | Δ PRIOR DAY CLOSE |
| Brent | ICE | $/bbl | 54.73 | -0.22 |
| WTI | NYMEX | $/bbl | 49.95 | +0.05 |
| Dubai (Spot) | Reuters | $/bbl | 0.00 | - |
| PRODUCTS | SOURCE | UNIT | LAST PRICE | Δ PRIOR DAY CLOSE |
| RBOB Gasoline | NYMEX | ₵/gal | 149.99 | -3.25 |
| Heating Oil | NYMEX | ₵/gal | 153.55 | -3.30 |
| NATURAL GAS | SOURCE | UNIT | LAST PRICE | Δ PRIOR DAY CLOSE |
| US Henry Hub | NYMEX | $/MMBtu | 1.86 | +0.01 |
| UK National Balancing Point | ICE | $/MMBtu | 2.97 | +0.03 |
| NATURAL GAS LIQUIDS | SOURCE | LAST PRICE (₵/gal) | LAST PRICE ($/mt) | Δ PRIOR DAY CLOSE(₵/gal) |
| US Mont Belvieu Propane (Spot) | Reuters | 40.25 | 209.70 | -0.63 |
| PRICE SPREADS ($/bbl) | SOURCE | LAST PRICE | Δ PRIOR DAY CLOSE | |
| Brent 3-2-1 Crack | ICE | 13.00 | -1.01 | |
MARKETS
| MARKETS | ||||
| EQUITIES | REGION/COUNTRY | LAST VALUE | Δ PRIOR DAY CLOSE | |
| S&P 500 | United States | 3,177.36 | +49.15 | |
| FTSE 100 | United Kingdom | 7,041.80 | +23.92 | |
| DAX | Germany | 12,772.10 | -18.39 | |
| SH Composite | China | 2,987.93 | -25.12 | |
| CURRENCIES | REGION/COUNTRY | LAST VALUE | Δ PRIOR DAY CLOSE | |
| £/$ | United Kingdom | 1.29 | -0.01 | |
| €/$ | European Union | 1.09 | +0.00 | |
| $/JPY ¥ | Japan | 110.45 | +0.27 | |
| $/CNY ¥ | China | 7.02 | +0.01 | |
Feb 25-26: LNGgc Asia
Feb 25-26: LNG USA Summit