LNG: DET Reports Full Allocation for Wilhelmshaven Regas Auction

Jul-02 16:59

Germany’s state-owned LNG operator DET announced on July 2 that all available regasification slots at its Wilhelmshaven terminals were fully booked during its latest marketing round, Platts said.

  • A total of 77 slots—at Wilhelmshaven 1 (Hoegh Esperanza FSRU) and Wilhelmshaven 2 (Excelsior FSRU)—were taken up by 23 market participants for use in 2025 and 2026.
  • Slots were marketed with both obligation to deliver (OTD) and no obligation to deliver (NOTD) terms,
  • The average 2026 prices for Wilhelmshaven 1 were €0.25/MMBtu (OTD) and €0.40/MMBtu (NOTD).
  • For Wilhelmshaven 2, 2025 prices averaged €0.29/MMBtu (OTD) and €0.36/MMBtu (NOTD), while 2026 averaged €0.22/MMBtu.
  • The Hoegh Esperanza began operations in late 2022, while the Excelsior, which arrived in April 2025, is set to start mid-August. Most LNG delivered to Wilhelmshaven and DET’s Brunsbuttel terminal in 2024 and 2025 came from the U.S.

Historical bullets

STIR: Full Reversal Of Rally On ISM Mfg, Powell Half-Watched Ahead

Jun-02 16:55
  • Fed Funds implied rates for late 2025 have almost fully reversed the modest dovish tilt after the miss for ISM mfg (but with prices paid seeing another month close to 70) and soft construction spending.
  • Cumulative cuts from 4.33% effective: 1bp Jun, 6.5bp Jul, 21.5bp Sep, 35.5bp Oct and 51.5bp.
  • SFRZ6 meanwhile is back at pre-ISM lows of 96.725, for an implied terminal yield of 3.275% after a 4.5bp intraday recovery. It’s back in the range of 100bp +/-5bp of cuts from the effective rate seen mostly over the past three weeks).
  • Ahead, Fed Chair Powell is set to give opening remarks at conference marking the Board of Governors International Finance 75th anniversary (text only). The conference is to recognize the division’s history and we don’t expect Powell to touch on mon pol, or at least certainly not offer anything new, but will monitor just in case.
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MNI EXCLUSIVE: ISM Manufacturing Survey Chief Speaks to MNI

Jun-02 16:54
  • ISM manufacturing survey chief discusses the sector outlook -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com

OPTIONS: German Package, Sonia Condors Monday

Jun-02 16:52

Monday's Europe rates/bond options flow included:

  • Bond Futures Package:
    • DUU5 107.30p, sold at 21.5 in 6.75k
    • DUU5 107.20p, sold at 17.5 in 6.75k.
    • UBU5 119.00p, sold at 280 in 500.
      vs
    • RXU5 130.00p, bought for 115 in 2k.
    • OEU5 117.75p, bought for 64.5 in 4k.
  • ERM5 97.87p, bought for 0.25 in 6k.
  • SFIU5 96.00/95.90/95.60p ladder, bought for 3.5 in 4k.
  • SFIZ5 96.25/96.35/96.45/96.55c condor, bought for 2 in 5k.
  • SFIZ5 95.90/95.80/95.70/95.60p condor, bought for 1.75 in 8.88k.