AmericasAsiaEuropeLNG Terminals

LNG freight rates rise in both basins

By LNG Prime Staff
LNG freight rates rise in both basins
For illustration purposes only (Image: TMS Cardiff Gas)

Spark Commodities reported a rise in its liquefied natural gas (LNG) freight spot rates in both basins this week.

“LNG spot freight continued to push higher this week, with the rate on the Atlantic Spark30S route up $9,750/day week-on-week to $45,000/day,” Spark said on Wednesday.

The Singapore-based firm said this comes amid an open arbitrage to Asia, with netback forward curves pricing in US cargoes more profitable to Asia than NW Europe for the remainder of the summer.

“Meanwhile, spot freight in the Pacific basin also tightened, with the rate on the Spark25S route rising $9,250/day week-on-week to $47,500/day,” Spark added.

Earlier this week, Spark said LNG spot rates fell under $40,000/day in May in both basins, their lowest levels in over a year, although freight rates ended the month on firmer footing and forward winter rates remain unchanged month-on-month at $182,000/day.

Both the Atlantic and Pacific rates for 160,000-cbm TFDE carriers fell below $100,000 per day in January, following record highs in October and November last year.

Most Popular

LNG Terminals

TotalEnergies picks Daewoo E&C for Papua LNG contract

French energy giant TotalEnergies and its partners in the planned Papua LNG project in Papua New Guinea have selected South Korea’s Daewoo E&C as the preferred bidder for the EPCC of the project's central processing facility and well pads.
LNG Terminals

Golar eyes fleet of more than seven FLNGs

Floating LNG player Golar LNG has made a pathway to increase its FLNG fleet to over seven units after ordering its fourth unit and securing two more shipyard slots, according to CEO Karl Fredrik Staubo.
Contracts and Tenders

Bangladesh’s RPGCL seeks more spot LNG supplies

Bangladesh’s Rupantarita Prakritik Gas (RPGCL), a unit of state-owned Petrobangla, is seeking bids for more spot liquefied natural gas (LNG) cargoes.
spot_img

More News Like This

LNG Terminals

Atlantic spot LNG rates drop to $40,000 per day

Atlantic spot LNG shipping rates continued to decrease this week, dropping to $40,000 per day, the lowest since the start of the Middle East conflict, according to Spark Commodities.
LNG Terminals

US weekly LNG exports climb to 36 cargoes

US liquefied natural gas (LNG) plants sent 36 cargoes during the week ending August 12, up five cargoes from the week before, according to the Energy Information Administration.
LNG Terminals

Atlantic spot LNG rates dip to $51,750 per day

Atlantic spot LNG shipping rates continued to drop this week, decreasing to $51,750 per day, the lowest since the start of the Middle East conflict, according to Spark Commodities.
LNG Terminals

US weekly LNG exports down to 31 cargoes

US liquefied natural gas (LNG) plants sent 31 cargoes during the week ending August 5, down four cargoes from the week before, according to the Energy Information Administration.