AmericasAsiaEuropeLNG Terminals

Spark: Pacific LNG freight rates drop to lowest level this year

By LNG Prime Staff
Spark Pacific LNG freight rates drop to lowest level this year
For illustration only (Image: TMS Cardiff Gas )

Spark Commodities reported a further drop in its Pacific LNG freight rates, while the Atlantic rates increased slightly from the beginning of this week.

“Spark25S Pacific LNG Freight has softened further this week, falling $2,250/day from the start of the week to the lowest level this year at $59,500/day,” Spark said on Thursday.

“Meanwhile, the Atlantic rate on the Spark30S route has pushed up $750/day from the year-low at the start of the week to reach $42,750/day,” the company said.

Spark: Pacific LNG freight rates drop to lowest level this year

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

The Atlantic LNG freight rates dropped to $51,250/day on March 21 due to high vessel availability and after that they fell below $50,000/day to reach lowest level this year earlier this week.

As per prices in Europe and Asia, both the Dutch TTF and Asian LNG prices dropped considerably this year when compared to 2022.

The TTF price for May settled at $13.463/MMBtu on Thursday, while the JKM spot LNG price for May settled at $12.605/MMBtu.

Most Popular

LNG Terminals

Jera boosts Wheatstone LNG stake

Japan’s power firm and LNG trader, Jera, has strengthened its indirect stake in the Chevron-operated Wheatstone LNG project in Australia by acquiring additional shares.
Research and Development

Shell, GTT, and LR to develop new LNG carrier

UK-based LNG giant Shell, French LNG containment specialist GTT, and classification society Lloyd’s Register have launched a joint development project to develop a conceptual 200,000-cbm LNG carrier combining hybrid-electric propulsion with GTT’s Next1 LNG cargo containment technology.
Contracts and Tenders

Taiwan’s CPC makes progress with Alaska LNG deal

Taiwan’s CPC Corp is making progress on buying LNG and investing in the planned Glenfarne-led Alaska LNG project, according to Taiwan's economy ministry.

More News Like This

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

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.
LNG Terminals

GECF: LNG imports down significantly in August

Global LNG imports declined significantly by 8.8 percent year-on-year to 34.29 Mt in August, as the ongoing Middle East conflict continued to constrain global LNG trade, the Gas Exporting Countries Forum (GECF) said in its latest report.
LNG Terminals

Atlantic LNG rates rise to almost $30,000 per day

Atlantic spot LNG shipping rates rose for the fourth week in a row, reaching almost $30,000 per day, according to Spark Commodities.