AsiaEuropeLNG Terminals

LNG charter rates slide further

By LNG Prime Staff
LNG charter rates slide further
For illustration only (Image: GasLog Partners)

Charter rates for the global liquefied natural gas (LNG) carrier fleet are continuing to drop on low vessel demand, following record highs in late November last year.

LNG freight rates for a 160,000-cbm TFDE carrier reached $23,000 a day in the Pacific on Friday, down $4,000 or 15 percent compared to the week before, according to Spark Commodities.

The Spark25 Pacific spot rate hit a record high of $374,500 per day on November 26.

LNG charter rates slide further
Image: Spark

On the other side, Atlantic rates dipped 85 percent to just $2,500 a day on Friday, “narrowly avoiding moving to a negative rate,” Spark said.

“A negative Spark30S freight rate would indicate that the hire payment received for chartering out a vessel in the Atlantic basin does not cover the fuel cost of ballasting back to the load-port,” it said.

Most Popular

Contracts and Tenders

Galp wins Calcasieu Pass arbitration against Venture Global

Portuguese energy firm Galp has won an arbitration case against US LNG exporter Venture Global LNG over LNG sales from the Calcasieu Pass plant in Louisiana.
Vessels

MISC to order five more LNG carriers for Petronas charter

Malaysian shipping firm MISC will order five additional newbuild 174,000-cbm liquefied natural gas (LNG) carriers at China's Hudong-Zhonghua. The vessels will serve a 20-year charter with a unit of MISC's parent, Petronas.
Contracts and Tenders

Seatrium scores Excelerate FSRU conversion gig

Singapore's Seatrium has secured a floating storage and regasification unit conversion contract with an option for a second contract from US FSRU player Excelerate Energy.

More News Like This

LNG Terminals

Atlantic LNG rates drop for first time in six weeks

Atlantic spot liquefied natural gas (LNG) shipping rates fell week on week for the first time in six weeks, according to Spark Commodities.
LNG Terminals

Atlantic LNG rates rise to $31,500 per day

Atlantic spot LNG shipping rates rose for the fifth week in a row, reaching $31,500 per day, according to Spark Commodities.
LNG Terminals

Atlantic LNG rates rise to almost $30,000 per day

Atlantic spot LNG shipping rates rose for the fourth week in a row, reaching almost $30,000 per day, according to Spark Commodities.
LNG Terminals

Atlantic LNG rates continue to increase

Atlantic spot LNG shipping rates rose for the third week in a row, rising $5,250 week-on-week to $25,250 per day, according to Spark Commodities.