LNG freight rates surge

Spot charter rates for the global liquefied natural gas carrier fleet have doubled over the last two weeks, according to Spark Commodities.

Earlier this month, spot LNG freight rates rose over $100,000/day in both Atlantic and Pacific for the first time since December 2021.

Now the rates surged “above $200k/day in both basins as winter approaches,” Spark said on Monday.

LNG freight rate for a 160,000-cbm TFDE carrier reached $210,500 a day in the Atlantic on Monday.

Compared to the previous week, Spark30S Atlantic spot LNG freight rate jumped by $44,25O.

On the other side, the Pacific rate also rose to $213,050 per day on Monday, up by $7,250 from the last week, according to Spark.

Spark also said that positioning fees are now being included in negotiations and fixtures, driving up the round-trip rates.

LNG freight rates surge
Image: Spark

Prior to these increases, charter rates dropped considerably in June due to the shutdown at the Freeport LNG facility in Texas.

Last month, Freeport LNG delayed the restart of its 15 mtpa LNG export plant in Texas to November following an incident at the facility that took place on June 8.

This facility and other US LNG terminals have sent most of their volumes to Europe this year due to high gas prices and as European countries look to slash reliance on Russian pipeline gas.

European demand also pushed Asian spot LNG prices to record highs.

The JKM LNG price fell in the last couple of weeks but it remains very high. It was assessed on September 23 at $38.21/MMBtu, up by 45 percent compared with a year ago, according to Platts.

Most Popular

Excelerate buys NFE’s Jamaica business for $1.05 billion

US FSRU player Excelerate Energy has entered into a definitive agreement with compatriot LNG player New Fortress Energy to acquire NFE’s business in Jamaica for $1.055 billion in cash.

Japan’s Tokyo Gas to expand LNG trading business

Japan’s city gas supplier and LNG importer, Tokyo Gas, plans to expand its liquefied natural gas trading business further, including in the US.

Shell CEO expects progress on Venture Global arbitration this year

Shell’s CEO Wael Sawan expects to have an update on an arbitration dispute with US LNG exporter Venture Global LNG later this year.

More News Like This

Atlantic LNG shipping rates, European prices down

Atlantic LNG freight shipping rates and European prices decreased this week compared to the week before.

Turkish and UK terminals remain top destinations for US LNG cargoes

LNG import terminals in Turkiye and the UK were the top destinations for US liquefied natural gas cargoes for the third month in a row in January 2025, according to the Department of Energy’s LNG monthly report.

Atlantic LNG shipping rates rise to $31,000 per day

Atlantic LNG freight rates rose to $31,000 per day this week, while European prices also increased compared to the prior week.

GECF says February LNG imports climb

Global liquefied natural gas (LNG) imports rose by 3.7 percent year-on-year in February, boosted by higher imports in Europe, the Gas Exporting Countries Forum said in its latest report.