The projected cost of building a U.S. LNG tanker may be an obstacle to the federal government’s attempt to revive the country’s shipbuilding industry, an LNG market analyst said Sept. 17.
A U.S.-made LNG tanker would potentially cost more than twice or even three times the price for the same vessel made in Korea or China, Senior LNG Analyst Sergio Chapa noted in a Poten & Partners webinar discussing shipping markets.
The current cost of a Korean-made vessel is about $250 million. Speakers at the recent GasTech event in Milan, Italy, estimated a completely U.S.-built LNG tanker would carry an $800 million price tag.
The estimate is in line with other analysts’ assessments. Allen Brooks, senior fellow at the National Center for Energy Analytics, wrote in July that industry specialists have put the price as high as $1 billion for a U.S.-made vessel.
Nvidia is investing $5 billion in rival Intel. A month...
Nvidia is investing $5 billion in rival Intel. A month after the Trump administration took a 10% stake in the struggling chipmaker, Nvidia—the largest company in the world by market cap—is pushing its chips in, too. With the investment, Nvidia and Intel will jointly develop chips for data centers and personal computers, giving Intel another boost for its turnaround plan while allowing Nvidia to move deeper into the PC market. The companies have reportedly been discussing a deal since last year, before the Trump administration bought a stake in Intel. Nvidia’s cash infusion increases the value of the government’s stake by nearly $5 billion to $14 billion. The news powered Intel’s stock to its best day yesterday since 1987.
Tesla is redesigning its door handles following reports that some models were trapping passengers inside their cars.
President Trump said Russian leader Vladimir Putin has “really let me down” as the US tries to barter a ceasefire between Russia and Ukraine.
Toyota and Hyundai are recalling more than 1.1 million cars over issues with seat belts and panel displays.
OpenAI reportedly fixed a security flaw that would have allowed hackers to access users’ Gmail data.
Olive Garden is testing smaller portions for some entrées at lower prices in an effort to boost sales, as Americans cut back on dining out.
Surprisingly Hefty Storage Build Sends Natural Gas Futures Tumbling
The U.S. Energy Information Administration (EIA) on Thursday reported...
The U.S. Energy Information Administration (EIA) on Thursday reported a larger-than-expected injection of 90 Bcf into natural gas storage for the week ended Sept. 12, sending futures sharply lower. Nymex natural gas settles down 5.2% at $2.939/mmBtu.
Russell 2000 books first record close in 4 years as U.S. stocks end higher
The small-cap Russell 2000 finished Thursday's session...
The small-cap Russell 2000 finished Thursday's session with its first record close in almost four years, as all three major U.S. stock indexes also ended at all-time highs.
Investor sentiment got a lift from Wednesday's decision by the Federal Reserve to cut interest rates in a quarter-point increment and to signal two more reductions for this year. Separately, data released on Thursday showed that a previously reported surge in jobless claims during early September turned out to be a false alarm, which sent Treasury yields to their highest levels in about two weeks.
The Dow Jones Industrial Average rose 124.10 points, 0.3%, to end at 46,142.42, based on preliminary data.
The S&P 500 climbed 31.61 points, or 0.5%, to finish at 6,631.96.
The Nasdaq Composite rose 209.40 points, or 0.9%, to close at 22,470.73.
The Russell 2000 rose roughly 61 points, or 2.5%, to finish at around 2,468. It was the small-cap index's first record close since Nov. 8, 2021.
In addition to reaching all-time closing highs, the Dow, S&P 500, Nasdaq, and Russell 2000 each climbed to record intraday highs during Thursday's session.