Rates for LNG carriers in the Atlantic double in the space of two months

Rates for LNG carriers in the Atlantic double in the space of two months

Rates for LNG carriers in the Atlantic have doubled in the space of two months with 160,000 cu m LNG tri-fuel diesel electric (TFDE) vessels now commanding $150,000 a day. Rates for ships in the Pacific are also growing strongly, with fixtures in the region of $140,000 a day.

Increased Asian demand is cited by many as the reason for the surge in rates with some brokers suggesting spot rates could crack $200,000 soon.

“Charterers continue to lock in multi-month contracts ahead of the winter and we continue to believe LNG shipping rates will remain strong due to very attractive supply/demand fundamentals in the coming quarters,” Jefferies said this week.

“Demand is set to easily outpace supply growth (new ships) until at least 2021,” Value Investor’s Edge predicted last month.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts