NORDIC DAYBOOK: Gas Shipping Rates Seen Rising 67% After Quake

The cost of shipping liquefied natural gas may advance 67 percent to a five-year high as Japan replaces its crippled nuclear industry with power plants burning fossil fuels.

LNG-tanker rates will average $100,000 a day in the fourth quarter from about $60,000 this quarter, according to Oyvind Hagen, an analyst at ABG Sundal Collier in Oslo, whose team’s share recommendations returned 16 percent in six months. Analysts covering Golar LNG Ltd. (GOL), which operates 13 of the vessels, raised their 2011 earnings estimates by 24 percent in four weeks, according to data compiled by Bloomberg.



ECONOMY: * Economic Outlook from the Confederation of Swedish Enterprise, 10:00 a.m. * Iceland inflation data for March, economist est.: +2.1% Y-Y, 11 a.m.

GOVERNMENT: * Bank of Finland board member Seppo Honkapohja speaks on monetary policy objectives at the Bank of Finland Museum, 4:30 p.m. * Norway Central Bank Governor Oeystein Olsen addresses foreign embassy representatives, Oslo, 3 p.m.

EARNINGS: * Elcoteq (ELQAV FH) FY, 8 a.m. * Powerflute (POW1V FH) FY * Solstad Offshore (SOFF NO) FY * AaB (AAB DC), FY. * Columbus IT Partner (COLUM) FY. * FirstFarms (FFARMS DC) FY.

CONFERENCES/CORPORATE EVENTS: * Ixonos (XNS1V FH) AGM, 10:30 a.m. * Pohjola Bank (POH1S FH) AGM, 1 p.m. * Danske Bank (DANSKE DC) AGM at 2 p.m. * Aktia (AKT1V FH) AGM, 3 p.m. * BW Offshore (BW NO) capital markets day, Singapore * VimpelCom Ltd. (VIP) 4Q, conference call at 4:30 p.m. * DnB NOR Markets holds Small and Medium Enterprises Summit in Oslo.

COMPANIES: * Unitech Ltd. (UT) fell in Mumbai trading after Telenor ASA (TEL) proposed that a dispute with the Indian property developer over their Uninor mobile phone venture be submitted to arbitration. Unitech fell 0.9 percent to 38.90 rupees as of 9:21 a.m. local time. * Maritime Industrial Services Co. Ltd. said today it signed a $22.5 million contract with Polish shipbuilding yard Crist SA. * Petrolia ASA entered a share buy accord with Sinvest AS to acquire 50 percent of the shares in Venture Drilling AS for $34 million. Venture is a 100 percent unit of Petrolia after the deal.

MARKETS: * Nasdaq OMX Helsinki 25 Index rose 0.4% to 2,626.60 * The OMX Stockholm 30 Index climbed 0.5% to 1,132.27 * Oslo’s OBX Index fell 0.2% 408.08 * The Copenhagen 20 Index fell 0.1% to 459.35 * Swedish krona -- U.S. 6.38764 - EU 8.9973 * Norwegian krone -- U.S. 5.60082 - EU 7.8907

To contact the editor responsible for this story: Meera Bhatia at

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