May 19, 2020
Twelve U.S. cargoes have been canceled this month while another 33 are expected in June, according to ship broker Poten & Partners. Twenty-five cancellations are expected in July and more than 20 are expected in each month from August to October given the uneconomic spread between the United States and key markets overseas.
“These numbers will still be high through August, September and October, with October peaking out at about 27 cancellations,” said Poten’s Kristen Holmquist, forecasting manager, during a webinar last week. “Cancellations could be higher. In our supply and demand balance we still show a little bit of excess supply, so there might even be more LNG taken out.
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