Spot charter rates for the global liquefied natural gas (LNG) carrier fleet rose for the second week in a row, according to Spark Commodities.
Last week, the Spark30S Atlantic increased to $157,250 per day, and the Spark25S Pacific increased to $142,750 per day.
“LNG freight rates rose again this week, with a 5 percent week-on-week increase in the Atlantic, extending this renewed winter rally,” Qasim Afghan, Spark’s commercial analyst told LNG Prime on Friday.
He said that the Spark30S Atlantic increased by $7,750 to $165,000 per day, while the Spark25S Pacific increased by $7,500 to $150,250 per day.
European LNG prices down
As per European LNG pricing, the SparkNWE DES LNG front month declined from the last week.
Last week, the NWE DES LNG for November was assessed at $14.824/MMBtu.
“The SparkNWE DES LNG price for December delivery is assessed at $14.303/MMBtu and at a $0.81/MMBtu discount to the TTF,” Afghan said.
“This is a $1.28/MMBtu reduction in DES LNG price, and a $0.08/MMBtu reduction in TTF basis, when compared to last week’s December price,” he said.
According to Platts data, JKM, the price for LNG cargoes delivered to Northeast Asia, remains under $18/MMBtu.
JKM for December settled at $17.645/MMBtu on Thursday.