--DES Northeast Asia
DES Northeast Asia prices softened. Buying from Chinese players was seen sporadically but in other Northeast Asian markets, demand was extremely thin due to the COVID-19 outbreak. On the other hand, cargoes from production projects continued to be shipped as maintenance was postponed and supply/demand fundamentals were weak. In China, Shandong Zhongnuo was seen to have awarded at least one cargo its buy tender closed on Mar 26 to PetroChina. Through the tender, Shandong Zhongnuo was looking for one cargo each for delivery May 7-16, June and October. Brunei LNG was said to have sold cargoes loading May 1-2 and mid-May on a DES basis to European trader Vitol.

--FOB Middle East, DES South Asia and the Middle East
In the South Asian and Middle eastern markets, sentiment was bearish. India was locked down from Mar 25 for 21 days and even after that, LNG demand was expected to be low. As a result, bearish sentiment heightened. Petronet, Gujarat State Petroleum Corporation (GSPC), GAIL and Adani Group declared force majeure on LNG intake and very few LNG cargoes were received in the country. At present, five vessels were waiting off the coast of India. Thus far, many surplus cargoes had been sent to Europe but since demand in Europe was also falling, these vessels were forced to wait off the coast of India.

--FOB Atlantic, DES Europe and South America
Turkish state-owned Botas was seen to have awarded its buy tender closed on Apr 1. Through the tender, Botas was seeking cargoes for delivery Apr 10-11, Apr 20-23 and Apr 28-29. The company would receive these cargoes at the Etki, Marmara and Dortyol terminals. In addition, US Cheniere reportedly awarded its buy tender closed on Mar 30 at a discount to TTF although the timing was unclear. Through the tender, Cheniere was looking for one cargo per month for delivery to Europe during May to September and in December.