Lng shipping costs. Let's start with a shipload of LNG.

Lng shipping costs The DES cost includes feedstock cost, operating cost, shipping cost, and capex recovery cost. Dec 14, 2024 · Sixty-eight vessels would have been added to that pool by the end of this year and 88 in 2025, according to Flex LNG, an LNG shipping company. 2 days ago · The spot rate to hire an LNG vessel for delivery from the U. Shipping an LNG cargo costs $1-3/mcf, while the most important input variable is the distance from source to destination. After the most turbulent year on record, global LNG Prices saw a welcome cooling in 2023, and consumers in Asia where gas remains a clean, premium fuel, have more LNG available to enhance security of supply and upgrade energy mix. lobal LNG market have faded. In our base case, we assume a distance of 5,750-miles, from the US to Europe, which yields a total transport cost of $130k/day or $1/mcf of delivered LNG. Margin opportunities in moving LNG We would like to show you a description here but the site won’t allow us. Jun 24, 2025 · LNG Shipping Rates Hit 8-Month High Amid Middle East Tensions and Tight Vessel Supply Liquefied natural gas (LNG) shipping costs have soared to their highest levels in eight months, driven by escalating geopolitical tensions in the Middle East and a tightening pool of available vessels. P. Jan 11, 2021 · LNG shipping rates have reached record highs, with one charter hitting $350,000 per day, due to a significant price difference between US and Asian LNG markets and insufficient vessel supply. LNG-380e is the price for an amount of LNG that delivers the energy equivalent of one metric tonne of IFO380 bunker fuel. May 20, 2021 · After a year of low LNG shipping costs caused by the effects of the Covid-19 pandemic, an unusually tight market during the 2020/21 winter resulted in a surge in charter rates. LNG charter rates have been on a steep downward trend since November 2023, falling from just over $200k/d to an average of around $50k/d in 2024 amid a massive overhang in LNG carrier capacity. It addresses the unique challenges and requirements of the LNG market, including stringent safety regulations and environmental compliance mandates that govern the industry. natural gas spot prices relative to European and Asian gas prices and LNG shipping costs. 3 days ago · Ascertain NGI's LNG Freight Costs: delve into critical LNG shipping rates, cost analytics, and market influences for enhanced trade decisions Jul 24, 2025 · How Much Does It Cost To Start Liquefied Natural Gas Shipping And Transportation Company? The LNG Express startup faces significant up-front costs. : Nine tankers from Sabine Pass Six from Plaquemines Five each from Corpus Christi and Freeport Four from Cameron Three Freight rates to ship LNG from the US Gulf Coast region to both Northwest Europe and Asia have cooled this week, as high gas inventories and lagging demand weigh on the market, sources said Dec. Mar 28, 2018 · How does the charter rate impact on total LNG shipping costs? What are the other key cost elements? What are the implications for future LNG projects in terms of affordability if LNG transport costs increase? Source: Howard Rogers, OIES How many tons of LNG does a ship have? This review aims to provide a user-friendly idea of the scale and accomplishments of LNG shipping. cargo deliveries Middle East tensions push shipping, insurance costs higher Shipping costs for liquefied natural gas (LNG) cargoes have rallied to their highest in about eight months . Modern MEGI vessels have recorded spot rates above $130,000/day, with some reports quoting as much as $150,000/day, for January cargoes. The LNG ship charter day rate was assumed to escalate with the CPI of 4% per annum. With the potential for significant profit comes the need for careful management of operating expenses The cost of shipping LNG has always been an important element to include in the assessment of new LNG project breakeven economics, or in selecting the optimum destination for a spot cargo of LNG. Learn about fixed vs variable costs and fuel price fluctuations, and boost your strategy with the LNG (Liquefied Natural Gas) Shipping and Mar 26, 2021 · Nevertheless, a shortage of LNG carriers and the congestion at the Panama Canal may recur in the next winter seasons, especially taking into account the rising U. Let's start with a shipload of LNG. The sharp rise comes as growing LNG exports from North America tighten the availability of vessels, pushing up charter rates in both the Atlantic and Pacific markets. One of the byproducts of the market upheaval has been that LNG players have had to adopt a more detailed, cost-conscious approach to their offtake decisions, including parsing the individual costs and potential netbacks at a Feb 5, 2025 · Shipping costs for liquefied natural gas (LNG) cargoes have tumbled to five-year lows as newly built carriers added to the global fleet outpace shipping demand and shorter average journey times have increased vessel availability. This data-file screens the costs of alternative shipping fuels, such as LNG, blue methanol, blue ammonia, renewable diesel, green methanol, green ammonia, hydrogen and e-fuels versus marine diesel. With more than 100 pre-FID projects totaling over 1,100 MTPA in contention to meet this demand, how can operators improve their competitive position? 19 hours ago · Transporting liquefied natural gas (LNG) across the Atlantic has become significantly more expensive, with spot shipping rates hitting their highest level in nearly two years. natural gas consumption as well as the impacts of two other important determinants of LNG supply: U. Mar 31, 2021 · Early 2021 witnessed a strong rebound in the regional LNG markets, with Asian spot LNG prices hitting over $30 mmBtu and European hub-based spot prices reaching almost $10 mmBtu. While the current tightness has pushed freight costs to multi-year highs, analysts expect rising new-build tanker deliveries to ease the situation. Feb 7, 2025 · The global liquefied natural gas (LNG) shipping market is experiencing a dramatic decline in freight rates as vessel availability has surged. This article explores the current state of LNG in shipping 3 days ago · Survey NGI's Spot LNG Vessel Rates: explore real-time shipping costs, rate fluctuations, and market dynamics for strategic energy maneuvers Dec 23, 2024 · The global liquefied natural gas (LNG) shipping sector is experiencing a significant downturn, as freight rates tumble to levels not seen in years. An LNG tanker pays a fixed ‘day Jul 24, 2025 · Key Takeaways Cost Complexity: Operating LNG shipping requires balancing significant fixed investments—such as vessel acquisition, technology, and staffing—with variable costs that fluctuate with market conditions (e. While LNG adoption has surged over the past decade, challenges related to infrastructure, pricing, and long-term sustainability remain key considerations. For more details about our standards, please refer to our LNG methodology and specifications guide. Choosing the right location and negotiating favorable lease agreements can significantly influence your startup expenses. 78 Several projects are still looking for financing, including Cedar LNG and Ksi Lisims LNG and FortisBC still hopes to expand its LNG shipping costs were calculated using Shaw Consultants’ shipping model based on a ship charter rate of US$120,000 per day for standard 140,000m 3 capacity LNG carriers. g. Newbuilding prices for the Large LNG sector of 174,000 CBM are currently at an all-time high of USD269 million, up by over six per cent. Floating Storage Visibility: Precisely track global LNG storage to anticipate supply conditions and market disruptions. Shipping costs rise between 10% to 3x, inflating the ultimate costs of products by 0. These rates reflect a strong increase in gas demand and gas prices in Asia, amplified by export facility outages May 16, 2018 · The below figure shows how the LNG cost profile declined somewhat from the 1990s to the 2000s: Additional technology driving further LNG cost reductions in the 2010s include: More efficient ship designs Lower United States liquefaction plant costs Floating liquefaction Liquefied Natural Gas (LNG) Vessels departing U. Understand shipping dynamics Gain a complete picture of trade and shipping dynamics with accurate and validated data on LNG cargoes and charter rates. Short-term Feb 4, 2025 · Discover the latest update on LNG freight rates, currently at historic lows due to excess supply and limited global demand. Jun 14, 2024 · Spot charter rates for the global liquefied natural gas (LNG) carrier fleet and European prices increased this week compared to the week before. 6. 2 days ago · LNG shipping rates reflect multiple operational variables beyond simple time charter equivalents, incorporating fuel costs, route premiums, seasonal adjustments, and operational risk assessments that explain why LNG tanker rates soar on booming U. While all of this is interesting trivia, these factors all play a role in determining the cost of moving Setting the bar for global LNG cost competitiveness By 2035, unmet LNG demand could reach 100 to 140 MTPA. Mar 26, 2021 · For most of 2020, the liquefied natural gas (LNG) shipping market was in a depressed state like many other segments of the global gas industry. Yet one of the most popular articles in our blog archive is a 2013 article that provides a breakdown of LNG shipping cost components. Here’s a breakdown of factors to consider: Upfront Costs: Conversions are often less expensive than buying new LNG-built ships, with conversion costs Global LNG market coverage including prices, news and market analysis, including forecasts and analytics and comprehensive analysis across regions. supply to Asia, which may raise charter rates and LNG shipping costs. Real-Time Cargo Tracking: Monitor LNG cargoes with details like buyers, sellers, trade type, and voyage details like draught, speed, laden or ballast conditions, bunkering, including ship-to-ship transfers. Get an expert view Learn more about the market assumptions and methodology underpinning ICIS’ market outlooks, with direct access to a team of 100 ICIS energy experts. exports. Premium yard slots and efficient specs support values and coverage today, while policy and routing friction can add cost and delay. But overall, there is a narrow range of plausible costs for delivering U. ports: Thirty-four LNG vessels with a combined LNG-carrying capacity of 129 billion cubic feet (Bcf) departed the United States between November 6 and November 12, according to shipping data provided by Bloomberg Finance, L. LNG imports and U. Sep 16, 2013 · The LNG shipping market is characterised by unusual terms such as ‘demurrage’, ‘ballast’ and ‘bunkering’. Feb 5, 2025 · Shipping costs for liquefied natural gas (LNG) cargoes have tumbled to five-year lows as newly built carriers added to the global fleet outpace shipping demand and shorter average journey times Jul 12, 2025 · Are you questioning LNG shipping costs before launching your venture? Discover how vessel lease costs, crew payroll expenses, and other factors shape your startup’s financial game plan. To make simple comparisons possible, Ship & Bunker express LNG prices in terms of the energy equivalent of one tonne of conventional oil bunkers. But which one actually makes the most sense for your vessel? And how much does each option really cost over a typical voyage? This interactive Jan 22, 2025 · As of January 2025, the liquefied natural gas (LNG) shipping industry continues to grapple with historically low freight rates. Jun 24, 2025 · LNG Atlantic, Pacific freight rates hit highest since Oct. Transportation distance is the most important cost driver for large-scale shipping. Navigating LNG transportation expenses is crucial for success. May 28, 2018 · We have analyzed and compared in Exhibit 1 the economics of LNG exports – in terms of delivered ex-ship (DES) costs for LNG – from these three locations to Asia and Europe. As voyage costs climb and routing patterns shift, every stakeholder, from cargo traders and terminal operators to insurers and utility buyers, is recalibrating strategy. Atlantic freight rates assessed for vessels with two-stroke engines capable of carrying 174,000 cubic meters of LNG, the most common type Get the latest Platts prices for global LNG markets, including major hubs JKM and NWE, and LNG freight prices. This trend reversed in early 2021 as an oversupply of carrier capacity and a fall in demand sent charter rates tumbling. This Energy Insight was prompted a perception that convenient rules of thumb for LNG transport costs were becoming outdated. Values for LNG vessels have increased across all sub sectors and age categories since the start of the year, with 20YO Large LNG vessels of 140,000 CBM up by around USD 10 million from USD 62. Introduction The cost of shipping LNG has always been an important element to include in the assessment of new LNG project breakeven economics, or in selecting the optimum destination for a spot cargo of LNG. 1-30%, for CO2 abatement costs of $130-1,000/ton. - Spot/short-term charter rates have been on a roller-coaster in the last three years - Covid-19 has put newbuilding prices under downward pressure in 2020 - The fall in oil prices has wiped out price increase of switch from fuel oil to IMO 2020 compliant fuels - Panama Canal tolls for LNG Apr 17, 2025 · What is the cost of LNG shipping? Are you curious how LNG shipping costs influence overall profitability? Dive into the complex world of fees, surcharges, and operational budgets that drive LNG transportation income. This in-depth analysis breaks down day rates, global chokepoints like Panama and Suez, weather delays, and rising insurance costs—explaining how time, risk, and geopolitics shape the true cost of moving liquefied natural gas across the globe. Discover the financial nuts and bolts behind these energy giants—read on to see how every dollar is spent! Apr 25, 2023 · The LNG Value Chain In order to understand the economics of the LNG Value chain, and the opportunities ahead, we first need to revisit the different links; natural gas production and exploration, liquefaction and storage, shipping, and receiving, regasification and distribution. 85 million to USD Jan 29, 2025 · LNG prices are forecast to ease in 2025 – settling at $14-15 MMbtu – after recording new lows in 2024, according to Drewry Shipping Consultants’ research. Rates have dropped to their lowest point in five years, driven by a combination of excess ship supply, shorter voyage durations, and declining spot market demand. Atlantic freight rates assessed for vessels with two-stroke engines capable of carrying 174,000 cubic metres of LNG, the most common type in the market, were at $4,250 per day on Tuesday Jun 24, 2025 · Implications Across the Shipping and Energy Sectors The surge in LNG freight rates is having broad ripple effects, not just for shipowners and charterers, but across the entire global energy value chain. These rates are expected to climb further, potentially reaching $1 million per day by the fourth quarter, due to the high profitability of LNG cargo. Jul 16, 2020 · Coronavirus and low oil prices have helped put downward pressure on most areas of LNG shipping costs. Oct 28, 2024 · Comparative Analysis – LNG Conversion vs. LNG shipping and ballast rates, JKM, and bunker prices act as daily-assessed inputs for the calculation of modelled freight cost value, in $/MMBtu, for voyages from 16 different load ports to nine different discharge ports. 5, down 6 cents/MMBtu on the day and down 10 cents/MMBtu on the week 6 days ago · Stay informed with NGI's LNG Data Suite for updates via API and XLS on Netback Prices, Arbitrage Curves, U. Oct 23, 2024 · Spot LNG charter rates typically display a strong seasonal profile, similarly to gas and LNG prices, they tend to rise with the arrival of the heating season, reflecting higher gas demand and consequently stronger shipping requirements. cargoes to remain in the Atlantic versus travelling to Asia. Jul 14, 2025 · An LNG tanker with a 160,000 cubic meter storage capacity could be chartered at an average spot price of ****** U. At the start of the year the number of available spot vessels in the Atlantic basin stood at five ships, before dipping to around three to four in March. Oct 31, 2025 · Price of Liquefied U. Apr 25, 2016 · Introduction The cost of shipping LNG has always been an important element to include in the assessment of new LNG project breakeven economics, or in selecting the optimum destination for a spot cargo of LNG. Such shipping cost calculations are often based on current short-term charter rate data disclosed by the analytical teams of specialist price reporting agencies or similar1. Oct 12, 2020 · The international gas price rout this spring and summer had a cascading effect on the LNG market, from collapsed price spreads to extreme disruptions in cargo activity. LNG losses during transshipment were assumed to be 0. The current situation Global LNG trade continued on a growth trajectory from 2022, with a further 2. As just one example, Spanish energy firm Repsol abandoned plans last March for an LNG export project on Canada’s east coast, citing the high cost of shipping gas from western Canada. What is LNG and LNG shipping? Liquefied natural gas (LNG) provides a cost-effective means for transporting natural gas overseas by super-cooling it to a liquid form, reducing its volume by approximately 1/600th of its gaseous state. 1 day ago · According to ship-tracking data from Bloomberg, the 30-day moving average for LNG exports from North America has increased by nearly 40% year-to-date. Feb 5, 2025 · SINGAPORE/LONDON, Feb 5 (Reuters) – Shipping costs for liquefied natural gas (LNG) cargoes have tumbled to five-year lows as newly built carriers added to the global fleet outpace shipping Apr 17, 2025 · Accurate cost estimation, including vessel acquisition and operational infrastructure, is critical for launching an LNG shipping and transportation business. Discover how shipping costs for liquefied natural gas (LNG) have plummeted to record lows due to an oversupply of vessels and changing market dynamics. A fully loaded 170,000m 3 LNG carrier transports about 72,000 tonnes of LNG, enough to heat 45,000 homes in North America for one year. 2 days ago · The cost of transporting liquefied natural gas across the Atlantic Ocean surged to the highest in almost two years, as expanding exports from North America boosted demand for tankers. In this article, we will go into further detail regarding the economic factors of the value chain and project Oct 3, 2022 · LNG shipping rates are at record highs, exceeding $300,000 per day for some vessels, driven by high demand and limited supply. Although there are numerous articles and reports describing the LNG industry (Office of Fossil Energy, 2005, Energy Jul 5, 2024 · Spot charter rates for the global liquefied natural gas (LNG) carrier fleet rose slightly this week, while European prices dropped compared to the previous week. In this week’s Analysis, we profile an LNG shipping market experiencing short-term headwinds (“spot” day rates hit record lows in early 2025 and remain well below trend) while anticipating a significant expansion phase (we expect trade volumes to grow 60% by the end of the decade). So why are people interested? The delivery of LNG cargoes is increasingly being optimised against spot price signals. S. Spot charter rates for LNG carriers have fallen to $30,000 per day, a dramatic contrast to the $200,000 per day highs recorded during the energy crisis of 2022. The surge in Atlantic LNG shipping rates underscores the rapid expansion of North American exports and the pressures this growth places on global vessel availability. The 7,000 CEU capacity ship, the NOCC Pacific, has been built in Yantai, China, the company said in a LinkedIn post. 61/MMBtu on Dec. Natural Gas Exports (Dollars per Thousand Cubic Feet)Referring Pages: Average LNG shipping tonne mile increased by ~14% as cargoes moved over long distances from the United States and the Middle East to Asian markets ~20 mtpa out of 41 mtpa of LNG volume contracted had duration longer than 20 years He provides an overview of upstream costs and analyses the likely transportation costs along multiple shipping routes, but perhaps most importantly provides a detailed analysis of the long-term trends in LNG liquefaction costs which will ultimately be a key driver in the future cost of delivered LNG. Efficiency and Technology: Implementing advanced route optimization, fuel-efficient technologies, and integrated tracking systems can reduce Sep 22, 2025 · Discover the real economics of LNG shipping. US-Asia Trade Boosts LNG Shipping The US shipped LNG to Asia via the COGH as Asian prices (despite being lower than in previous years) were at a premium over TTF, coupled with lower shipping rates. Jul 31, 2023 · Volatile shipping rates can eat up margin for an LNG trader looking to cash in on higher winter prices, and rising transportation costs ultimately can mean higher prices for buyers in Europe and Asia. to Europe jumped 19% to $98,250 per day, the highest since January 2024. Adapt quickly in liquid 2 days ago · The cost of transporting liquefied natural gas across the Atlantic Ocean has jumped to the highest since January 2024, Bloomberg reported. Spot rates for LNG carriers have plunged to unprecedented lows, and period rates are also under heavy pressure, courtesy of too many newbuildings, liquefaction project delays and a lack of floating storage in Europe Feb 26, 2018 · Shipping costs seems like a relatively obscure topic. This LNG shipping and transportation business plan template is tailored specifically for companies engaged in liquefied natural gas logistics. Platts, a part of S&P Global Commodity Insights, assessed the USGC to Northwest Europe LNG freight cost at $1. Feb 27, 2025 · As the maritime industry navigates stricter environmental regulations and a shifting energy landscape, liquefied natural gas (LNG) continues to gain momentum as a transitional fuel. Rising freight rates could widen the price gap between gas in Asia and Europe, as shipping costs from the US to the Pacific will become more expensive. According to the firm's website, two more LNG-capable ships are expected to join its fleet Nov 14, 2023 · we will explore the key factors affecting ISO tank shipping rates and provide insights into how to navigate these costs effectively. Latest Rotterdam bunker prices, analysis, trends, and history. This trend is reshaping the LNG trade landscape and prompting shipowners to reevaluate Jul 5, 2019 · Shipping costs vary by destination and also due to market conditions—short-term charter rates are volatile while long-term rates are not. We still prefer CO2 removals. However, by mid-March, strengthening demand in Asia allowed for a recovery in charter rates Jun 24, 2025 · In February, LNG shipping rates fell to five-year lows as the global fleet expanded and higher delivered prices in Europe incentivised U. Not for the first time, it seems a case of ships delivering on time while projects have slipped back. Feb 5, 2025 · Shipping costs for LNG cargoes have tumbled to five-year lows as newly built carriers added to the global fleet outpace shipping demand and shorter average journey times have increased vessel availability. The realignment in LNG Nov 11, 2024 · Curious about the billions poured into LNG projects and where that money actually goes? Our latest insight unpacks the EPC contract costs for each phase of an LNG project, from drilling to distribution. LNG Export Flow Data, Shipping Costs, Vessel Rate Curves, and more. , fuel prices and port fees). Jun 24, 2025 · Shipping costs for liquefied natural gas cargoes have rallied to their highest in about eight months with vessel availability tightened by a shift in more ships heading to Asia at the same time as conflict has escalated in the Middle East. 1 day ago · LNG freight rates are assessed in this medium-term outlook, with structural shipping cost estimates for 2024–2030 on key LNG trade routes. A major expense is the initial investment in liquefied natural gas carriers and expanding the LNG fleet. Unlike container and crude shipping, where high transport costs impact importers and refiners' profits, LNG Apr 2, 2025 · Subscribe to the Ship Universe Weekly Newsletter (Free) With new environmental rules, rising fuel prices, and a growing menu of alternatives like LNG, methanol, and even hydrogen, shipowners and operators are facing more fuel choices than ever before. Short-term Dec 16, 2020 · LNG shipping rates increase according to MarsoftLNG spot rates have risen sharply in recent weeks, in line with our base/high case trajectories. Jul 8, 2025 · As of March 2023, the shipping costs of LNG spot cargoes per million British thermal units that Japan imported from Cameroon amounted to **** U. Licensing, permits, and insurance costs must be thoroughly planned to ensure compliance and safeguard operations 1 day ago · Access LNG Vessel Rate - West of Suez (LWSUEZ) natural gas price chart featuring a one-year view using NGI's interactive Price Snapshot. More than 80 ships will be delivered each year Jan 29, 2025 · Spot LNG charter rates in the Atlantic dropped by 80% since the start of the year to a record low of $5000/day, not sufficient to cover operating expenses. Curious about detailed cost breakdowns? Our insights cover LNG contract negotiations and efficiency strategies. Jun 24, 2025 · In February, LNG shipping rates fell to five-year lows as the global fleet expanded and higher delivered prices in Europe incentivised U. Jan 24, 2025 · Liquefied natural gas shipping costs are plummeting as the market grapples with a glut of vessels, a development that could provide relief for gas importers and help pad profits for traders. Jun 24, 2025 · LNG shipping rates have surged to their highest levels in eight months as Middle East risks and shifting trade flows tighten vessel availability and drive up costs. Learn how importers could benefit from lower shipping costs and the Bulk commodity shipping rates are underperforming in general, but LNG shipping is in a league of its own. LNG Shipping Costs Tumble To Five-Year Lows Oversupply of carriers leads to plummeting rates, with new vessels exceeding current demand. Stay updated with expert market data. Mar 1, 2011 · This paper examines the empirical relationship between U. Costs to hire a tanker in the Pacific Ocean also jumped 15%. New LNG-Built Ships When deciding between converting an existing vessel to LNG or purchasing a newly built LNG-fueled ship, shipowners must weigh the cost, timeline, and overall operational benefits. 2024 Europe and Asia are now equally profitable for U. 145% of the cargo volume per day. Apr 6, 2025 · As the LNG Liquefied Natural Gas Shipping and Transportation industry continues to experience rapid growth and expansion, it's essential for entrepreneurs and small business owners to understand and plan for the various operating expenses associated with running a business in this sector. However Jan 15, 2021 · In addition to sky-high shipping costs, expensive NE Asian LNG prices are a function of record winter temperatures in the region, transportation bottlenecks, and supply outages. LNG to Europe. This downturn is primarily attributed to an oversupply of LNG carriers, delays in new liquefaction projects, and tepid global demand. These factors collectively exert downward pressure on the market, challenging shipowners and operators worldwide. Until recently, […] Feb 5, 2025 · Shipping costs for liquefied natural gas (LNG) cargoes have tumbled to five-year lows as newly built carriers added to the global fleet outpace shipping demand and shorter average journey times have increased vessel availability. The LNG shipping industry continues to grow rapidly with global demand for LNG expected to increase by more than 50 percent by 2030. 1% increase in 2023, connecting 20 exporting with 51 importing markets. Global LNG freight rates have remained steady throughout this year, despite the number of LNG vessels available in both the Pacific and Atlantic spot markets fluctuating in 2024. 2 days ago · LNG shipping is entering a phase where new orders, long term offtake, and evolving sanction rules all pull in different directions. Subscribe to the 19 hours ago · Norwegian Car Carriers AS has taken delivery of a new dual-fuel LNG car carrier from China. It features interesting conventions such as ‘canal transit costs’ and is impacted by the very real threat of modern day piracy. New technologies in both shipping and floating liquefaction and regasification Oct 17, 2024 · Lower LNG prices supported the demand in price-sensitive countries such as India, Bangladesh and Thailand. yeqej peti svmtor gzumcm eegfmvn xmd vafh rsu bzyxt ftguuge oxyl iht bgmx khobzaa wgio