Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Spark: spot LNG freight rates remained range bound this week

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet remained range bound this week, according to Spark Commodities.

Last week, Spark’s Atlantic rate for 160,000-cbm TFDE carriers fell $2,250 per day week-on-week to reach $70,750 per day.

On the other hand, the rate on the Pacific Spark25 route fell $2,000 per day week-on-week to $69,250 per day, in the first weekly drop since May.

“LNG freight rates remained range bound this week, with the Spark30S Atlantic ending at $71,250 per day and the Spark25S Pacific at $69,750 per day,” Henry Bennett, Spark’s head of pricing, told LNG Prime on Friday.

European buyers now have to bid higher for cargoes

Bennet said that the SparkNWE DES LNG for August deliveries moved to a premium to the TTF for first time in 18 months, marked at $9.254/MMBtu, a 10c premium, as the arb for US cargos to voyage to Asia remains open via the Panama and the Cape of Good Hope, forcing European buyers to bid higher to compete for cargos.

According to Bennet, most European regas is now unprofitable and slots may go unutilized.

The TTF price for September settled at $9.227 per MMBtu on Thursday, while the JKM spot LNG price for August settled at $10.920 per MMBtu.

State-owned Pakistan LNG said earlier this week that it received two offers for spot cargoes with delivery in January 2024 from commodity trader Trafigura.

Trafigura offered a price of $23.4711/MMBtu for the January 3-4 delivery and $22.4722/MMBtu for the February 23-24 delivery, the firm said.

This Trafigura offer is the first bid for spot LNG cargoes Pakistan received for its tenders in about a year as Europe took most of the available spot cargoes last year.

Most Popular

Deutsche ReGas plans to reinstall second Mukran FSRU

German LNG terminal operator Deutsche ReGas plans to reinstall a second FSRU at its Mukran LNG terminal after it terminated the charter contract for the 174,000-cbm FSRU Energos Power with the German government.

Venture Global LNG gets Calcasieu Pass approval from FERC

US LNG exporter Venture Global LNG has received approval from the US FERC to launch operations of its entire Calcasieu Pass LNG terminal in Louisiana.

Venture Global shipped 63 LNG cargoes in Q1

US LNG exporter Venture Global LNG shipped a total of 63 LNG cargoes from its Calcasieu Pass and Plaquemines LNG export terminals in the first quarter of this year.

More News Like This

Atlantic LNG shipping rates, European prices continue to drop

Atlantic LNG freight shipping rates and European prices continued to decrease this week.

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.