China Re-Exports Record Monthly Volume of LNG on Weak Demand
(Bloomberg) -- China has re-exported more than 280,000 tons of liquefied natural gas so far in April, the highest volume ever in a single month, according to ship-tracking data compiled by Bloomberg.
Newsom Says California Is Now the World's Fourth-Biggest Economy
Why Car YouTuber Matt Farah Is Fighting for Walkable Cities
At Bryn Mawr, a Monumental Plaza Traces the Steps of Black History
Los Angeles Downgraded to AA- by S&P Due to Budget Woes
US Cricket Deepens Bet on Texas With HQ Shift From California
That is equivalent to 7.7% of total imports for the month, the data shows. The high volume of re-exports is likely spurred by weak domestic demand, as a mild winter and robust inventories mean that China is not in any dire need for the super-chilled fuel. The nation may also benefit from higher prices abroad.
Meanwhile, imports of the fuel are also set to fall this month, extending a slump in buying activity for a sixth month.
Exporting shipments from Chinese ports is rare but the nation has leaned into the practice since November, with the volume increasing from the start of the year, according to Bloomberg data. Prior to November, the last time the country re-exported shipments was in January 2024.
Kpler, an analytics firm that tracks ship data, shows that China exported about 160,000 tons in April.
The resales could provide relief to buyers elsewhere, especially importers in Europe who are looking to refill inventories and replace the loss of Russian pipeline deliveries.
Importers in China had earlier diverted most of their contracted LNG from the US to Europe in search of higher profits amid weak domestic demand and punitive tariffs on American fuel.
More News:
Gail is seeking to purchase an LNG cargo on a DES basis for June delivery to India
Angola LNG offered a cargo on a DES basis for May delivery to locations including South America, Europe, the Middle East and South Asia
Jera Co. is considering participating in a proposed liquefied natural gas export project in Alaska, as part of Japan's efforts to negotiate a trade deal with the US
A total of 12 LNG ballast vessels are waiting near the Bintulu plant in Malaysia, according to ship-tracking data compiled by Bloomberg, as exports from the facility rise after an outage
Drivers:
European natural gas prices broadly held last week's decline as demand for supplies of tanker-borne fuel continued to waver in Asia, leaving more available for other buyers
Estimated flows to all US export terminals were ~15.6 bcf/day on April 27, +0.5% w/w: BNEF
China's 30-day moving average for LNG imports was 137k tons/day on April 24, 38% lower than this time last year, according to ship-tracking data compiled by Bloomberg
European gas storage levels were ~38% full on April 26, compared with the five-year seasonal average of ~49%
Buy tender:
Sell tender:
--With assistance from Kathy Chen.
(Updates with LNG wrap details.)
As More Women Lift Weights, Gyms Might Never Be the Same
Why US Men Think College Isn't Worth It Anymore
Eight Charts Show Men Are Falling Behind, From Classrooms to Careers
The Mastermind of the Yellowstone Universe Isn't Done Yet
Healthy Sodas Like Poppi, Olipop Are Drawing PepsiCo's and Coca-Cola's Attention
©2025 Bloomberg L.P.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
31 minutes ago
- Yahoo
The Tesla share price could skyrocket next week!
The Tesla (NASDAQ:TSLA) share price is quite frankly hard to keep track of. One moment its down near $220, the next it's pushing towards $400. However, next week could be a big week for the company. The stock's valuation hinges not on electric vehicles (EVs), but its potential leadership in the autonomous driving space. As such, Tesla's upcoming robotaxi launch in Austin, Texas, set for 12 June, has reignited debate over the company's sky-high valuation and the potential for dramatic share price swings in the coming week. The move marks Tesla's long-awaited entry into the autonomous ride-hailing market. With rivals like Waymo, Zoox, and Avride already operating in the city's tech-friendly environment, Tesla may be in danger of falling behind. At the heart of any discussion about Tesla — or any stock — is valuation. Tesla's current and forward multiples remain among the highest in the consumer discretionary sector. The company's forward price-to-earnings (P/E) ratio stands at 180.4 times, nearly 1,000% above the sector median of 16.4 times, and even higher than its own five-year average of 115.1 times. The forward price-to-earnings-to-growth (PEG) ratio is 8.6. That's more than four times the sector median — and remember some of these other companies will pay a dividend. This tells us that even with projected earnings growth, the stock is expensive by growth investing standards. Meanwhile the price-to-sales (P/S) and enterprise value-to-EBITDA (earnings before interest, tax, depreciation, and amortisation) ratios tell a similar story. Tesla's forward P/S is 11.31 (sector median is 0.87), while its forward EV-to-EBITDA is 76.58 (sector median: 9.73). These metrics indicate Tesla is valued not just as a carmaker, but as a tech company with enormous anticipated future profits. The market's optimism, or overoptimism, is rooted in the robotaxi story. Tesla aims to dominate in the sector by quickly scaling its robotaxi operations globally. In theory, it's a high-margin business with strong recurring revenues. This would fundamentally alter the company's earnings profile. However, this optimism is highly speculative and contingent on overcoming significant technical, regulatory, and competitive hurdles. And that's why it's so important that Tesla impresses with its launch next week. There's also the Optimus robot. This is Tesla's humanoid robot, which like the robotaxi venture, is built around developments in artificial intelligence (AI). Optimus could also be game changing. Despite the possibilities, Tesla's valuation leaves little margin for error. And this risk is compounded by the competitive landscape in Austin. Waymo, especially, already established a presence, and its technology relies on different approaches — such as lidar and radar — compared to Tesla's camera-based system. And while Elon Musk touts Tesla's approach as more scalable and cost-effective, the company has a history of missing self-imposed deadlines on autonomy, which could test investor patience if the rollout stumbles. Personally, I want to see Tesla do well. I want companies to succeed and push the boundaries of technology. However, I believe Tesla's execution risk is considerable and the valuation hard to justify. That's why I'm watching from the sidelines. The post The Tesla share price could skyrocket next week! appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool James Fox has no position in any of the shares mentioned. The Motley Fool UK has recommended Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Sign in to access your portfolio
The Hill
35 minutes ago
- The Hill
How the Vatican manages money and where Pope Leo XIV might find more
VATICAN CITY (AP) — The world's smallest country has a big budget problem. The Vatican doesn't tax its residents or issue bonds. It primarily finances the Catholic Church's central government through donations that have been plunging, ticket sales for the Vatican Museums, as well as income from investments and an underperforming real estate portfolio. The last year the Holy See published a consolidated budget, in 2022, it projected 770 million euros ($878 million), with the bulk paying for embassies around the world and Vatican media operations. In recent years, it hasn't been able to cover costs. That leaves Pope Leo XIV facing challenges to drum up the funds needed to pull his city-state out of the red. Anyone can donate money to the Vatican, but the regular sources come in two main forms. Canon law requires bishops around the world to pay an annual fee, with amounts varying and at bishops' discretion 'according to the resources of their dioceses.' U.S. bishops contributed over one-third of the $22 million (19.3 million euros) collected annually under the provision from 2021-2023, according to Vatican data. The other main source of annual donations is more well-known to ordinary Catholics: Peter's Pence, a special collection usually taken on the last Sunday of June. From 2021-2023, individual Catholics in the U.S. gave an average $27 million (23.7 million euros) to Peter's Pence, more than half the global total. American generosity hasn't prevented overall Peter's Pence contributions from cratering. After hitting a high of $101 million (88.6 million euros) in 2006, contributions hovered around $75 million (66.8 million euros) during the 2010's then tanked to $47 million (41.2 million euros) during the first year of the COVID-19 pandemic, when many churches were closed. Donations remained low in the following years, amid revelations of the Vatican's bungled investment in a London property, a former Harrod's warehouse that it hoped to develop into luxury apartments. The scandal and ensuing trial confirmed that the vast majority of Peter's Pence contributions had funded the Holy See's budgetary shortfalls, not papal charity initiatives as many parishioners had been led to believe. Peter's Pence donations rose slightly in 2023 and Vatican officials expect more growth going forward, in part because there has traditionally been a bump immediately after papal elections. The Vatican bank and the city state's governorate, which controls the museums, also make annual contributions to the pope. As recently as a decade ago, the bank gave the pope around 55 million euros ($62.7 million) a year to help with the budget. But the amounts have dwindled; the bank gave nothing specifically to the pope in 2023, despite registering a net profit of 30 million euros ($34.2 million), according to its financial statements. The governorate's giving has likewise dropped off. Some Vatican officials ask how the Holy See can credibly ask donors to be more generous when its own institutions are holding back. Leo will need to attract donations from outside the U.S., no small task given the different culture of philanthropy, said the Rev. Robert Gahl, director of the Church Management Program at Catholic University of America's business school. He noted that in Europe there is much less of a tradition (and tax advantage) of individual philanthropy, with corporations and government entities doing most of the donating or allocating designated tax dollars. Even more important is leaving behind the 'mendicant mentality' of fundraising to address a particular problem, and instead encouraging Catholics to invest in the church as a project, he said. Speaking right after Leo's installation ceremony in St. Peter's Square, which drew around 200,000 people, Gahl asked: 'Don't you think there were a lot of people there that would have loved to contribute to that and to the pontificate?' In the U.S., donation baskets are passed around at every Sunday Mass. Not so at the Vatican. The Vatican has 4,249 properties in Italy and 1,200 more in London, Paris, Geneva and Lausanne, Switzerland. Only about one-fifth are rented at fair market value, according to the annual report from the APSA patrimony office, which manages them. Some 70% generate no income because they house Vatican or other church offices; the remaining 10% are rented at reduced rents to Vatican employees. In 2023, these properties only generated 35 million euros ($39.9 million) in profit. Financial analysts have long identified such undervalued real estate as a source of potential revenue. But Ward Fitzgerald, the president of the U.S.-based Papal Foundation, which finances papal charities, said the Vatican should also be willing to sell properties, especially those too expensive to maintain. Many bishops are wrestling with similar downsizing questions as the number of church-going Catholics in parts of the U.S. and Europe shrinks and once-full churches stand empty. Toward that end, the Vatican recently sold the property housing its embassy in Tokyo's high-end Sanbancho neighborhood, near the Imperial Palace, to a developer building a 13-story apartment complex, according to the Kensetsu News trade journal. Yet there has long been institutional reluctance to part with even money-losing properties. Witness the Vatican announcement in 2021 that the cash-strapped Fatebenefratelli Catholic hospital in Rome, run by a religious order, would not be sold. Pope Francis simultaneously created a Vatican fundraising foundation to keep it and other Catholic hospitals afloat. 'They have to come to grips with the fact that they own so much real estate that is not serving the mission of the church,' said Fitzgerald, who built a career in real estate private equity. ___ AP reporter Mari Yamaguchi in Tokyo contributed. ___ Associated Press religion coverage receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.
Yahoo
35 minutes ago
- Yahoo
Jefferies Initiates Coverage of Excelerate Energy (EE) with a Buy Recommendation
Jefferies began coverage of Excelerate Energy, Inc. (NYSE:EE) on June 5, assigning the stock a Buy rating with a $39 price target, indicating an average upside potential of approximately 31%. Jefferies analysts noted that the company stands to profit from long-term LNG (liquefied natural gas) demand via its Floating Storage Regasification Unit (FSRU) and regas infrastructure, which signals consistent cash flows and limited commodity risk in the future. A bird's eye view of a natural gas pipeline stretching across the landscape. To capitalize on the LNG demand, Excelerate Energy, Inc. (NYSE:EE) is increasing its assets and enhancing integration by building a new FSRU, signing LNG Sale and Purchase Agreements (SPA), and purchasing New Fortress Energy Inc. (NASDAQ:NFE)'s LNG-to-power Jamaican assets. These tactical plays by EE are projected to strengthen its growth, combined with its solid financials and controlled debt. As Excelerate Energy, Inc. (NYSE:EE) slows down capital expenditure that supports its growth, analysts expect future free cash flow to increase, which in turn can possibly elevate its capital returns and valuation. The Buy rating shows Jefferies' confidence in the company's capacity to make strategic use of its existing infrastructure and contracts for sustained growth and value generation in the future. Excelerate Energy, Inc. (NYSE:EE) is a Texas-based provider of liquefied natural gas (LNG) solutions, specializing in regasification services using floating storage and regasification units (FSRUs) and building supporting infrastructure. While we acknowledge the potential of EE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
