LNG floating storage
Navigating the complexities of LNG shipping just got easier with Vortexa’s refined methodology for identifying LNG floating storage.
An increase in the amount of cargo in floating storage is a great indicator of the changes in market dynamics, from contango market conditions and price volatility to strategic reserve and risk management. At Vortexa, we work hard to ensure our dedicated model monitors the vessel’s behaviour and flags the cargos that appear to be in the floating storage state.
Traditional strategies that track storage by spotting stationary tankers fall short in the LNG sector, where vessels engaged in storage often move along unique trajectories. Recognising this gap, Vortexa set out to develop a nuanced, user-centric solution tailored to the distinctive patterns of LNG tankers. Our dedicated team, comprising data scientists, software engineers, and LNG market analysts, collaborated closely to craft an innovative method that accurately reflects the dynamic nature of LNG storage operations. After a lot of investigations and working with our in-house experts on monitoring vessel behaviours, we have identified unique characteristics of LNG vessels in floating storage and developed a dedicated model for identifying LNG vessels that are used as floating storages.
An enhanced methodology to identify LNG floating storage
Vortexa determines LNG floating storage by assessing multiple aspects of vessel and cargo movements to understand if the vessel is in floating storage or not.
Rigorous testing against verified instances of floating storage and alignment with market trends has confirmed the accuracy and reliability of our approach. This development marks a significant step forward in offering real-time, global insights into LNG floating storage, providing our users with an indispensable tool in their market analysis arsenal.
Defining short vs. long term floating storage
Within the dedicated floating storage screen, you see a breakdown of short vs. long term storage floating storages. Short-term LNG floating storage represents cargoes on board that have been in floating storage for up to 23 days, while long-term storage represents cargoes stationary for more than 23 days.
Accessing Floating Storage
The new model powers the cargo status and enables our users to understand the floating storages in a vessel by vessel basis or in aggregated charts filtered by locations. This data set can be accessed through the date range filter & selecting floating storage status.
In addition to the Cargo Flows screen, the dedicated floating storage screen provides historical daily time series for the last 12 months, with the ability to aggregate by location. The API meanwhile offers a complete floating storage dataset starting from 2016.
