COSCO Shipping didn’t respond to an email seeking comment and didn’t answer calls from Bloomberg. The Dapeng Moon, Dapeng Sun and Dapeng Star are anchored near the terminal or off the coast of China, according to ship-tracking data compiled by Bloomberg.Ī Woodside spokesman declined to comment on specific loadings and said the company is aware of the sanctions and will comply with all legal obligations. Woodside Petroleum Ltd.’s North West Shelf LNG venture in Australia wouldn’t load two tankers that were meant to deliver cargoes for CNOOC because the vessels are owned by a unit of COSCO, according to the traders. The company didn’t immediately respond to a request for comment. (CNOOC) is seeking two cargoes for prompt delivery to its Dapeng terminal because of the sanctions, according to traders with knowledge of the matter. Ltd., a venture of commodity tracking company Kpler SAS and the European Energy Exchange, puts the rate at $133,200.Ĭhina National Offshore Oil Corp.
“We don’t know whether the COSCO sanctions will have a meaningful impact on the LNG shipping market, but it is influencing sentiment.”īenchmark LNG spot shipping rates east of the Suez Canal jumped to $130,000 a day on Oct. “It is a super tight market at the moment,” a spokesman at LNG tanker owner GasLog Ltd. to lift the sanctions at high-level trade negotiations in Washington this week. sanctions on units of China’s largest shipper are affecting global trade flows, having already fueled steep increases in oil tanker rates. Rates have more than doubled in less than a month, showing how U.S. That came on top of other factors limiting the number of ships available, including Typhoon Hagibis in Japan, the biggest buyer of the fuel, and the stockpiling of fuel on tankers in anticipation of higher fuel prices in the winter and price incentives to hold onto cargoes. sanctions imposed on two COSCO shipping units last month over alleged shipments of Iranian crude oil. 9 as the heating season begins to boost demand. The day rate for a standard tanker east of the Suez Canal surged 57% in the week ending Oct. It owns and operates a fleet of around 550 vessels, with total carrying capacity of up to 30 million metric tons deadweight (DWT).(Bloomberg) - The cost of chartering a liquefied natural gas vessel on the short-term market has jumped the most since at least 2013.
COSCO contains seven listed companies and has more than 300 subsidiaries locally and abroad, providing services in freight forwarding, ship building, ship repair, terminal operation, container manufacturing, trade, financing, real estate, and information technology. In addition, the Group is the largest liner carrier in China.
They are the largest dry bulk carrier in China and one of the largest dry bulk shipping operators worldwide. It ranks sixth largest in number of container ships and ninth largest in aggregate container volume in the world. It owns more than 130 vessels (with a capacity of 600,000 twenty-foot equivalent units (TEU)) and calls on over a thousand ports worldwide. Its headquarters is in Ocean Plaza in the Xicheng District in Beijing. It is a government-owned company of the People's Republic of China. China Ocean Shipping (Group) Company, known as COSCO or COSCO Group, is a Chinese shipping and logistics services supplier company.
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