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.