Total Gas & Power and Glencore have executed the first LNG freight swap backed by the Baltic Exchange's new LNG index.
The swap between the UK and Swiss companies was facilitated, and announced, by London shipbroker Affinity Wednesday afternoon.
Terms were not disclosed.
"With liquidity increasing in the LNG market in recent years, freight has come under the spotlight as participants look to manage their exposure to vessel spot rates," said Affinity's head of LNG derivatives Benjamin Gibson.
