LNG tankers lying unused around S'pore as gas downturn gets critical

Singapore

OVER a dozen liquefied natural gas (LNG) tankers are berthed, many idle, in and around Singapore - one of the world's biggest trading hubs for the fuel - in a sign that the slowdown engulfing world gas markets may be worsening into a crisis.

With Asian spot LNG prices down by almost two-thirds since February 2014 as slowing demand combines with rising output, shippers are bringing their tankers near ports like Singapore's, where they can undergo maintenance until new orders come in.