LNG charter rates slide further

Charter rates for the global liquefied natural gas (LNG) carrier fleet are continuing to drop on low vessel demand, following record highs in late November last year.

LNG freight rates for a 160,000-cbm TFDE carrier reached $23,000 a day in the Pacific on Friday, down $4,000 or 15 percent compared to the week before, according to Spark Commodities.

The Spark25 Pacific spot rate hit a record high of $374,500 per day on November 26.

LNG charter rates slide further
Image: Spark

On the other side, Atlantic rates dipped 85 percent to just $2,500 a day on Friday, “narrowly avoiding moving to a negative rate,” Spark said.

“A negative Spark30S freight rate would indicate that the hire payment received for chartering out a vessel in the Atlantic basin does not cover the fuel cost of ballasting back to the load-port,” it said.

Most Popular

Another steam LNG carrier sold for demolition

An NYK-managed steam liquefied natural gas (LNG) carrier has been sold for demolition, according to brokers.

Canada approves Ksi Lisims LNG project

According to a statement on Monday, Julie Dabrusin, Minister of Environment and Climate Change, issued her decision under the...

Abaxx sees significant volume growth in its LNG futures

Abaxx Commodity Futures Exchange, a wholly owned subsidiary of Abaxx Technologies (CBOE:ABXX) has seen significant volume growth in its physically deliverable LNG futures during the past summer months, according to Abaxx Exchange Chief Commercial Officer Joe Raia.

More News Like This

Atlantic LNG shipping rates remain steady this week

Atlantic spot LNG shipping remained steady this week, while Pacific prices dropped compared to last week.

Spot LNG shipping rates continue to drop

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet continued to decrease, while European prices rose this week compared to the previous week.

Spot LNG shipping rates down this week

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet and European prices dropped this week compared to the previous week.

Spot LNG shipping rates slightly up this week

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet rose slightly this week compared to the previous week.