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

Contracts and Tenders

Venture Global seals new deals to support expansion of its power network

US LNG exporter Venture Global has entered into power and grid frame agreements with GE Vernova and Baker Hughes for up to 16 new, 720 MW power island units and associated power transformer equipment, supporting the continued expansion of its existing behind-the-meter, industrial power network that is not reliant on the grid.
Vessels

Hanwha Ocean, Posco plan to build LNG carrier with high-manganese steel tanks

South Korean shipbuilder Hanwha Ocean and steel producer Posco plan to build a liquefied natural gas (LNG) carrier equipped with high-manganese steel cargo tanks.
LNG as Fuel

Singapore LNG bunkering volumes rise in September

Singapore’s monthly LNG bunkering sales rose in September compared with the same month last year, according to the Maritime and Port Authority of Singapore.

More News Like This

LNG Terminals

US weekly LNG exports rise to 35 shipments

US liquefied natural gas (LNG) plants sent 35 cargoes during the week ending October 14, up four shipments from the previous week, according to the Energy Information Administration.
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

US LNG exports drop to 31 shipments

US liquefied natural gas (LNG) plants sent 31 cargoes during the week ending October 7, down six shipments from the previous week, according to the Energy Information Administration.
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.