At least five fully-laden liquefied natural gas (LNG) tankers are idling offshore India, as yet unable to discharge their cargoes, after importers there declared force majeure earlier this week, according to an analyst and shipping sources.
Gas demand is falling globally amid the fast-spreading coronavirus which has capped industrial output, forcing LNG tankers in several regions to remain at sea fully laden with no immediate destination, the sources said.
At least three major buyers in India, the world’s fourth largest LNG importing country, issued force majeure notices to suppliers earlier this week as domestic gas demand slumped and port operations were affected by a nationwide lockdown to curb the spread of the virus.
