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.