Iran’s control of Strait of Hormuz raises legal issues; reopening unlikely

Iran’s tightening grip on the Strait of Hormuz has left global energy markets and shipping in turmoil, with The Financial Times reporting that a full reopening of the waterway in 2026 is unlikely.

Instead, countries such as India, China, Japan, and South Korea may be forced into bilateral deals with Tehran to secure passage, while legal and political disputes over Iran’s maritime claims deepen.

Energy and shipping disruption

According to The Financial Times, maritime traffic through the Strait of Hormuz has collapsed by more than 90% from pre-conflict levels, as insurers withdraw coverage and war-risk premiums soar.

The chokepoint, which normally carries about 20% of global oil and LNG flows, has become nearly inaccessible to Western-flagged vessels.

Moody’s has warned that Asian importers will likely negotiate bilateral transit corridors with Iran, possibly through routes near Larak Island or via Omani waters, but a return to pre-war traffic volumes this year is improbable.

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LNG Bunker Snapshot: Singapore bunker premium surges as Europe’s narrows

Weekly changes in LNG bunker prices:

ARA down by $62/mt to $944/mt

Singapore up by $36/mt to $1,118/mt

Baltics down by $62/mt to $1,051/mt

Portugal down by $46/mt to $1,059/mt

Europe

European LNG bunker prices tracked lower with the front-month TTF contract, which fell $0.87/MMBtu ($45/mt). Peace talk optimism around US-Iran negotiations raised hopes of a reopening of the Strait of Hormuz, while cooler temperatures across Europe reduced gas-fired power demand.

LNG bunker prices in the ARA and the Baltics underperformed against TTF, each dropping $62/mt as bunker delivery premiums also narrowed on the week. Portugal fell $46/mt, though its pricing remains only loosely tied to TTF.

Downside was limited by renewed skirmishes near Hormuz over the weekend and persistently low EU gas storage – around 35% full versus a five-year average of 47%.

The IEA’sGreg Molnar said storage injections remain 20% below last year’s pace, reflecting tight supply conditions, and warned the injection campaign will be “more challenging and more expensive than expected.”

On the supply side, new LNG exports led by the US have offset around two-thirds of the Hormuz disruption, according to Molnar.

“However, the gains in LNG prices were offset by reports that Qatar is managing to get some LNG cargo through the Strait of Hormuz,” ANZ Bank commodity strategist Daniel Hynes said.

Unplanned maintenance at several Norwegian gas facilities added a further supply concern, though the impact on prices was muted, the Japan Organization for Metals and Energy Security (JOGMEC) noted.

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Hormuz After the Ceasefire: A Controlled System, Not a Recovery

 A ceasefire has been declared, but the maritime system has not reset.

Transit through the Strait of Hormuz remains restricted, coordinated, and selectively enforced. There has been no return to open commercial navigation. Standard shipping lanes remain largely unused, and no meaningful increase in traffic has followed the ceasefire announcement.

This is not a recovery phase — it is a supervised pause, where operational control remains intact, and geopolitical leverage is still being actively exercised.

Transit Remains Selective and Constrained

Transit volumes remain low and highly selective.

On April 8, five bulk carriers were tracked outbound through the Strait, all moving through the IRGC-controlled corridor around Larak Island rather than through standard commercial shipping lanes. One 76-meter general cargo vessel departing Oman exited the Strait south of Larak Island, outside standard navigation routes.

By April 9, only limited additional movements were observed, including one inbound handysize bulk carrier, a small outbound product tanker, and a sanctioned, falsely flagged LPG carrier carrying Iranian LPG outbound after previously aborting its transit attempt. Additional vessel presence consists primarily of Iran-flagged ships operating within the controlled corridor.

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LNG Bunker Snapshot: Singapore price falls on weaker premiums | Infinity Dynamics

Rotterdam’s LNG bunker price declines on softer European gas benchmark, while Singapore’s price drops mainly due to a sharp fall in LNG bunker premiums.

Weekly changes in LNG bunker prices:

Rotterdam down by $95/mt to $1,022/mt

Singapore down by $126/mt to $1,280/mt

Rotterdam

Rotterdam’s LNG bunker price has fallen by $95/mt, primarily driven by an almost 10% drop in the front-month Dutch TTF Natural Gas contract, a key benchmark for European gas prices.

The decline in TTF prices has been driven by multiple factors, including “an increase in underground gas storage, expectations of rising temperatures and a recovery in wind power generation, and hopes for easing tensions in the Middle East,” according to the Japan Organization for Metals and Energy Security (JOGMEC).

“Donald Trump does, despite his continuous threats against Iran, appear to be very interested in striking a fast deal with the Iranians to have the Strait of Hormuz re-opened,” added Mind Energy.

“European [gas] prices fell sharply… amid favourable weather forecasts and hopes of de-escalation in the Iran conflict. Strong wind generation could weigh on gas demand for power, while weaker industrial demand and a lighter maintenance season in Norway add to the bearish tone,” two analysts from ING Bank noted.

EU underground gas storage stood at 28% on 3 April, slightly down from 28.2% a week earlier and 18.8% lower year-on-year, according to data from Gas Infrastructure Europe.

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VLCC Tanker Market Facing New Questions Regarding Direction | Rig Jobs

 LR2

MEG LR2 freight eastward climbed modestly this week. The TC1 75kt MEG/Japan index went from WS353 to WS376.

By comparison, a voyage west saw the TC20 90kt MEG/UK-Continent index came down to $7.29 million (-$143,000).

The TC15 80kt Mediterranean/East index dropped by $170,000 to $8.23 million this week with the corresponding TCE dropping to $61,300/day on Baltic description round trip.

LR1

The TC5 55kt MEG/Japan index has been assessed up by 25 points to W388.

A run west on TC8 65kt MEG/UK-Continent ended the week with the index $109,000 lower to $5.61 million.

On the UK-Continent, LR1 freight rose another 11 points this week to WS296 for the TC16 60kt ARA/West Africa index. This took the Baltic TCE for the route to $57,900/day round trip.

MR

The TC17 35kt MEG/East Africa index added 189 points to WS591 this week.

On the UK-Continent, MRs came back up this week. The TC2 37kt ARA/US-Atlantic Coast index was assessed 11 points higher than last week at WS230 with the Baltic TCE for the round trip at $19,700/day.

In the US Gulf, MR freight resurged this week. The TC14 38kt US Gulf/UK-Continent run is currently assessed at WS413 after beginning the week at WS395. The Baltic round trip TCE for the run is now at $58,200/day. The Caribbean voyage on TC21, 38kt US-Gulf/Caribbean is presently assessed at $2.03 million, the corresponding TCE is now at $93,200/day on Baltic description round trip.

The MR Atlantic Triangulation Basket TCE went from $69,100/day to $673,400/day.

Handymax

In the Mediterranean, Handymax’s on TC6, 30kt Cross-Mediterranean index climbed 32 points to WS357 this week.

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Chabahar Port is a strategic, long-term project beyond external pressure: Iran envoy

In an interview with ANI, Ambassador Mohammad Fathali said that India-Iran relations continue to display depth and resilience, rooted in a long history of friendship and shared interests. Despite certain external constraints, he noted that bilateral ties have maintained continuity and dynamism.

“As major regional powers, Iran and India share a common outlook on stability. development and multilateral cooperation,” he said, adding that this shared vision provides a strong foundation for further strengthening relations.

Building on this shared outlook, the ambassador underlined that while cooperation between the two countries has progressed steadily, its full potential remains untapped. He identified energy, transit and connectivity as key sectors where bilateral engagement could expand significantly in the coming years.

Highlighting Iran’s geopolitical importance in this context, Ambassador Mohammad Fathali said that Iran serves as a regional crossroads, offering India vital access to Central Asia, the Caucasus and Europe. Combined with Iran’s vast energy capacities, he said this positioning can play a crucial role in strengthening economic and strategic ties between New Delhi and Tehran.

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2026 New Year’s Message from the President & CEO To a Year of Challenges and Progress

To everyone in the “K” LINE Group, I would like to wish you and your families a Happy New Year. I hope that you were able to spend an enjoyable year-end and New Year period, and that you are ready to start 2026 feeling refreshed.

Looking back on 2025, the business environment surrounding our Group was marked by geopolitical risks that became apparent throughout the year. These included the rivalry between the US and China, heightened tensions in the Middle East, and the prolonged Russia-Ukraine situation. In addition to these, concerns over a global economic slowdown and uncertainty surrounding energy and environmental policies in various countries further compounded the situation, leaving the future business environment facing a high degree of uncertainty.

In particular, the impact of tariff policies (primarily in the United States), the introduction of punitive port fees by the US Trade Representative (USTR) targeting ships (though temporarily suspended), and the responses of China and other countries to these measures became major factors disrupting global trade and maritime transport demand. For our Group, which focuses on the shipping industry, this past year also forced us to deal with such disruptions.

In terms of environmental regulations, the IMO MEPC meeting held last October postponed the adoption of medium-term measures to reduce greenhouse gas (GHG) emissions from international shipping, delaying the establishment of unified international rules. Some countries and regions have also seen setbacks in certain decarbonization initiatives, necessitating careful attention to future national energy mix policies. Despite these circumstances, the global trend toward GHG reduction from a medium to long-term perspective remains unshaken, and “K” LINE is committed to steadily implementing its various measures to reduce environmental impact.

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Thordon Bearings Wins 2025 Motorship Award For T-Boss Sterntubeless Ship Design

Thordon Bearings has won the 2025 Motorship Award for T-BOSS, the ship design which replaces a traditional sterntube with a space that allows inspection and maintenance of a seawater-lubricated bearing and seal arrangement from inside the ship.

The award, presented at the Motorship Propulsion & Future Fuels Conference in Hamburg, Germany, on the 25th of November, recognizes innovative partnerships that result in low-emissions maritime solutions. T-BOSS – the Thordon – Blue Ocean Stern Space – was developed by a consortium of maritime partners consisting of ABS, Thordon Bearings, Wärtsilä Shaft Line Solutions, CSSC-SDARI (Shanghai Merchant Ship Design & Research Institute), and the National Technical University of Athens.

The innovative solution replaces the conventional sterntube and cooling tank with a dry chamber housing a single seawater-lubricated, non-metallic Thordon COMPAC bearing. In addition to minimizing shipbuilding costs with the removal of the sterntube and oil sealing system, the design significantly reduces operating expenditure.

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Ardmore Shipping Results Beat Estimates as Fleet Grows

Ardmore Shipping Corporation announced results for the three and nine months ended September 30, 2025.

Highlights and Recent Activity

Reported Adjusted earnings of $12.6 million and net income attributable to common stockholders of $12.1 million for the three months ended September 30, 2025, or $0.31 Adjusted earnings per basic and diluted share, compared to Adjusted earnings and net income attributable to common stockholders of $23.3 million, or $0.55 Adjusted earnings per basic and diluted share for the three months ended September 30, 2024. (See reconciliation of net income to Adjusted earnings in the Non-GAAP Measures section.)

Reported Adjusted earnings of $27.2 million and net income attributable to common stockholders of $26.7 million for the nine months ended September 30, 2025, or $0.67 Adjusted earnings per basic and diluted share, compared to Adjusted earnings of $109.3 million and net income attributable to common stockholders of $123.5 million, or $2.62 Adjusted earnings per basic share and $2.60 Adjusted earnings per diluted share for the nine months ended September 30, 2024. (See reconciliation of net income to Adjusted earnings in the Non-GAAP Measures section.) The major driver of the variance between Adjusted earnings and net income attributable to common stockholders for the nine months ended September 30, 2024, was a $12.3 million gain from the sale of the Ardmore Seafarer in April 2024.

Consistent with the Company’s variable dividend policy of paying out dividends on its shares of common stock equal to one-third of Adjusted earnings, the Board of Directors declared a cash dividend on November 5, 2025, of $0.10 per common share for the quarter ended September 30, 2025. The dividend will be paid on December 12, 2025, to all shareholders of record on November 28, 2025.

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How CEOs are responding to geopolitical uncertainty

When the rules of global trade could change any day, how do you make decisions? McKinsey experts report from the business frontlines of geopolitical turmoil.

The recent wave of tariffs, trade negotiations, and geopolitical tensions ground the world’s businesses to a halt—but only for a while. Business leaders cannot give in to paralysis; they need to analyze, plan, and, in some cases, act urgently. We invited seven McKinsey leaders whose profiles span diverse geographies and industries to share the tactical or strategic moves their clients are making, what they’re most worried about—and what they may not be worried about enough.

Questions keeping CEOs up at night

Shubham Singhal: Uncertainty about trade policy is obviously high on the list. More fundamentally, CEOs are feeling uncomfortable. These individuals are generally driven to push ahead and make decisions, so they’re asking, “How do I lead during this time?” One CEO used a sports analogy: If you’re a track athlete, you have fixed points and firm ground. If you’re a surfer, there are no fixed points or firm ground. He wondered if there were any fixed points in the current uncertainty toward which he could navigate. However, this is more of a surfing scenario: Business leaders have to learn how to ride the waves.

Sven Smit: CEOs need to absorb and make sense of large amounts of change—what is noise, what is signal, what you should act on now, what you should wait to act on. Will new governments reverse course in a few years, or are we facing something structural and fundamental? Then, of course, they need to analyze each geography, each supply chain, each product category. We haven’t seen these types of developments for 35 years, so CEOs don’t have the experience through which to filter this reality. And the signals are not clear: Experts disagree about fundamental things, such as whether large trade deficits are good or bad.

Cindy Levy: The first question I get when I speak to CEOs is, “How do I get my own intellectual handle on what’s going on?” Whereas once they engaged on these topics at a steady but low level, they now realize they need a strong grasp on all the developments and a “house view” on which eventualities they need to plan around, at least on a contingency basis.

Shivanshu Gupta: Asian companies worry about the concentration and vulnerability of their supply chains. For example, rare earth materials supply chains are becoming constrained due to geopolitical tension between the United States and China, affecting industries such as automotive and electrical equipment. Some automakers in Japan, Korea, and India are already so severely affected that they are considering scaling down production. Business leaders are additionally concerned that the many disputes in the region could flare up.

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US Gulf refiners seek MidEast, S.American oil to offset Venezuela, Mexico losses

U.S. Gulf Coast refiners are snapping up higher volumes of Middle Eastern and South American crudes to offset the loss of Venezuelan and Mexican barrels, according to ship tracking data, a workaround solution that might be short-lived if the U.S. allows some sanctioned Venezuelan crude to return to the market.

The shake-up in trade flows reflects a shortage of medium and heavy crude grades at the key Gulf Coast refining hub which has struggled in recent months to secure adequate supplies amid Mexican production and quality challenges, and Washington’s pressure strategy on Venezuela’s sanctioned energy industry.

The U.S. Treasury Department in March revoked key licenses that allowed some companies to export Venezuelan oil and fuel to the U.S. after President Donald Trump criticized the OPEC nation’s record on migration and democracy.

However, the administration is now preparing to grant new authorizations to key partners of Venezuela’s state-run PDVSA to allow them to operate with limitations, which could include oil swaps, five sources close to the matter said this week.

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India’s crude diversification push won’t impact Middle Eastern term contracts

India is looking to widen its crude import basket with more non-OPEC crudes, but the diversification strategy is unlikely to impact term contracts with Middle Eastern suppliers, as energy security takes center stage, DLN Sastri, director for oil refining and marketing at the Federation of Indian Petroleum Industry, said in an interview.

In addition, expanding strategic reserves and building a fleet of oil tankers will figure in the future oil strategy for India, which imports more than 80% of its crude oil needs, Sastri told Platts, part of S&P Global Commodity Insights.

“The long-term diversification plan won’t alter the majority of the term contracts with Middle Eastern producers. State-refiners will not like term volumes for Middle Eastern crude to fall below 50%,” he added.

Russian imports accounted for about 35% of India’s total crude requirements in 2024, which was nearly 4.9 million b/d. The Middle East and Russia together accounted for nearly 80% of India’s crude imports, according to data from S&P Global Commodities at Sea.

“For India, security of supply is as important as affordability. The configuration of many Indian refiners is being built keeping in mind the crude specifications of Middle Eastern supplies, such as Kuwait and Iraqi crudes,” Sastri added.

He added that India has been buying large volumes of Russian crude since the start of the Russia-Ukraine conflict because of attractive discounts, and this would continue as long as the price remains attractive. “India continues to buy Russian crude, but there is no binding agreement, and it is being driven purely on commercial considerations.”

Russian crude shipments averaged 3.68 million b/d in May, up 165,000 b/d, or 5%, from April levels to the highest since October and above average 2024 flows of 3.54 million b/d, according to CAS data.

Russia’s crude exports to its biggest customers, India and China, were little changed at 1.67 million b/d and 1.11 million b/d, respectively.

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First Russian-built ice-class LNG tanker to launch this year, Ifx reports

The first Russian-built ice-class tanker for liquefied natural gas is expected to go into operation in the second half of this year at the Arctic LNG 2 plant, Interfax news agency quoted tanker group Sovcomflot FLOT as saying on Wednesday.

International sanctions over Ukraine have led to a shortage of tankers in Russia that can cut through thick ice, preventing Arctic LNG 2 from exporting cargo since the first stage of the plant started operation at the end of 2023.

The tanker, named Alexey Kosygin after a Soviet statesman, was built at the Zvezda shipyard and is due to join the fleet of vessels for the Arctic LNG 2 plant.

The tanker, already under U.S. sanctions, started sea trials at the end of last year and the final trial stage is due to begin at the end of this month.

“If all test parameters are achieved, there is a good chance that the vessel will be put into operation in the second half of this year,” Sovcomflot’s CEO Igor Tonkovidov told Interfax.

Russian energy company Novatek NVTK, which owns 60% of Arctic LNG 2, has said 15 Arc7 ice-class tankers that are able to cut through two-metre (6.5 ft) thick ice to transport LNG from Arctic projects, will be built at the Zvezda shipyard.

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World Shipping Council Statement on World Ocean Day 2025

On this World Ocean Day, we celebrate the immense value of the Ocean – a source of life, food, energy, and biodiversity, and a vital ally in the fight against global warming. The Ocean produces half of the world’s oxygen, and as the world’s largest carbon sink, absorbs a quarter of all CO₂ emissions. It sustains communities, supports economies, and literally keeps world trade afloat – carrying the ships that deliver 80% of everything we humans need.

For those of us in the maritime industry, the Ocean is more than a backdrop – it is our workplace, our partner, and our shared responsibility.

Shipping is the backbone of global trade and economic growth, connecting communities around the world – but we account for up to 3% of global GHG emissions. That’s why liner shipping is investing massively in the transition to clean fuels and technologies.

Investing USD 150 billion to decarbonise shipping and protect the Ocean

Today, nearly 80% of all new container ships and vehicle carriers on order are designed to run on zero/near-zero GHG emissions fuels (ZNZ fuels)

Already, 200 such vessels are in operation

By 2030, at least 1,000 new container and vehicle carriers designed to run on zero or near-zero emissions fuels and technologies will be on the water

That represents an investment by liner ocean carriers of more than USD 150 billion in the decarbonisation of the shipping industry

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Middle East Crude-Benchmarks gain; OPEC oil output falls in December

Middle East crude benchmarks Oman, Dubai and Murban rose on Wednesday amid firm demand from Asia, and as OPEC oil output fell in December after two months of increases.

The Organization of the Petroleum Exporting Countries pumped 26.46 million barrels per day in December, down 50,000 bpd from November, a Reuters survey showed on Tuesday, with the United Arab Emirates providing the biggest drop.

The drop in the UAE’s output was due to field maintenance, while Iran’s production also declined, offseting a hike from Nigeria and other gains elsewhere in the group.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 4 cents to $1.60 a barrel.

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Post-MEPC 82: adapting regulations to reality | Shipboard Jobs

The Marine Environment Protection Committee’s 82nd meeting (MEPC 82), held shortly after the implementation of the D-2 standard on 8 September 2024, marked a pivotal moment for ballast water management systems (BWMS).

A Riviera webinar, Post-MEPC 82 (October 2024) issues, hosted by Riviera on 14 October 2024, brought together experts from across the sector to discuss the MEPC 82 agenda and the evolving challenges facing the BWMS industry.

Panellists included Mouawad Consulting chief executive Jad Mouawad, EcoHarbor president Mark Riggio, Intertanko assistant manager environment Will Sturdy, and Global TestNet chair Guillaume Drillet.

Topics ranged from regulatory developments and compliance, to operational challenges in water quality, and the transition of BEMA. 

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Fincantieri: “Star Princess” launched in Monfalcone | Rig Jobs

The launch of “Star Princess,” the second LNG (liquefied natural gas) cruise ship that Fincantieri is building for Princess Cruises, took place today at the Monfalcone shipyard.

The ceremony was attended, among others, by John Padgett, President of Princess Cruises, and Cristiano Bazzara, Director of the Fincantieri shipyard in Monfalcone. Godmothers of the ceremony Chiara del Vecchio, 3rd Engineer aboard the “Sun Princess”, and Francesca Maraventano, executive assistant at the Monfalcone shipyard.

With a gross tonnage of approximately 178,000 tons, “Star Princess” is the sister ship to “Sun Princess,” also built in Monfalcone and delivered earlier this year. It is the second-largest ship ever built in Italy and the second LNG-powered cruise ship Fincantieri is building for this ship owner. Additionally, it is the second dual-fuel ship, primarily powered by LNG, to join the Princess fleet. Liquefied natural gas is considered the most advanced, mature, scalable, and commercially viable fuel technology for the maritime industry. It is also recognized as one of the cleanest fossil fuels, as it reduces greenhouse gas emissions and mostly eliminates other airborne pollutants and particulate matter.

“Star Princess” is the second ship in Princess Cruises’ Sphere class, with delivery expected in fall 2025. The new vessel will accommodate approximately 4,300 passengers and is based on a next-generation platform design.

Princess Cruises is a globally leading cruise line operating a fleet of 17 modern ships, transporting millions of guests each year to 330 destinations worldwide.

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US sues ship firms for $100m over Baltimore bridge crash

The US government has filed a $100m (£75.6m) lawsuit against the owner and operator of a cargo ship that crashed into and destroyed a Baltimore bridge.

Justice Department officials said the companies, Synergy and Grace Ocean, were “well aware” of the issues with the Dali before it lost power and crashed into the Francis Scott Key bridge on 26 March, leading to the deaths of six people.

The government said it cost more than $100m to clear the estimated 3,000 to 4,000 tonnes of debris caused by the crash and enable the Port of Baltimore to reopen.

Attorney General Merrick Garland said he wanted to ensure that the costs were “borne by the companies that caused the crash, not by the American taxpayer”.

The Justice Department said any money recovered would go towards the costs of reconstruction.

The bodies of six workers killed as they repaired pot holes during a nightshift were recovered from the Patapsco river in the days after the disaster. The families of three said on Monday they were suing Grace Ocean.

The Justice Department’s lawsuit, filed in district court in Maryland, alleges that the ship’s electrical and mechanical systems were improperly maintained and that the crash was “entirely avoidable”.

A preliminary National Transportation Safety Board report found that the Dali had lost electrical power four times in less than 12 hours before colliding with the bridge.

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Shipping lenders’ climate risk exposure | All Types of Marine Jobs

Lenders to shipping are increasingly considering climate performance when setting loan margins, a study has found. However, their focus remains on the corporate level rather than the asset level, potentially limiting their ability to mitigate transition risks.

The Lower margins are tied to companies’ climate performance rather than to low-carbon assets study by Marie Fricaudet, Sophia Parker, Nadia Ameli, and Tristan Smith, published in Cell Reports Sustainability, examines the lending practices of shipping debt providers. The researchers found that banks, particularly those signed up to the Poseidon Principles, have begun to price in the climate score of shipowners they lend to. This shift is largely attributed to the Paris Agreement and growing pressure for decarbonisation within the shipping sector.

However, despite the increasing importance of climate performance, the study highlights that lenders are not differentiating their margins based on a ship’s carbon intensity. This suggests that while they are considering climate factors at the corporate level, they are not yet fully addressing the transition risks associated with individual assets.

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Asia spot LNG prices down on muted demand, cooler weather | Cruise Ship Jobs

Asian spot liquefied natural gas (LNG) prices fell this week on signals of weak economic growth in China while above-average temperatures across China, Japan and South Korea are coming to an end, which would reduce cooling demand.

The average LNG price for October delivery into north-east Asia LNG-AS was at $13.40 per million British thermal units (mmBtu), industry sources estimated, down from $14.00/mmBtu last week

“Poor industrial data from China put red flags on the industrial gas demand for the coming period, signalling weaker economic growth,” said Klaas Dozeman, market analyst at Brainchild Commodity Intelligence

“In addition, the warmest weather seems to come to an end in the coming weeks as temperatures start to sink on seasonal effects. This might decrease the cooling demand over the coming period,” he said

Dozeman said that while geopolitical tensions are still ongoing in gas sensitive markets, the risks did not materialize any disruptions so far

In Japan. Major power utilities reported combined LNG storage levels of 183 million tonnes (Mt) for Sept. 1, down 11.2% week-on-week but 6.4% higher than at the end of August 2023 However, levels are 9.4% lower than the five-year average of 2.02 Mt for the end of August from 2019-23. said Masanori Odaka, senior analyst at Rystad Energy.

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