LNG Cargoes All Dressed Up with Nowhere to Go

It seems no market has been left untouched by the COVID-19 coronavirus. Not even the LNG (liquefied natural gas) market. Force majeures--cancelations of LNG contracts due to circumstances "beyond our control"--are now an almost daily occurrence. Big tankers full of LNG often leave a port without a final destination, receiving instructions along the way on where the ship will unload the LNG. A cascading number of force majeures has some of those ships sailing around, "all dressed up but nowhere to go."

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