LNG freight rates, European prices drop this week

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet continued to decline this week, while European and Asian prices also dropped compared to the week before.

Last week, Spark30S Atlantic decreased to $108,500 per day, and the Spark25S Pacific decreased to $80,250 per day.

“LNG freight rates have fallen for the sixth consecutive week, with the Spark30S Atlantic, now assessed for 174,000-cbm 2-stroke vessels, falling below $100,000 per day this week for the first time in 5 months,” Qasim Afghan, Spark’s commercial analyst told LNG Prime on Friday.

Spot LNG shipping rates continue to decline
Image: Spark

Afghan said that the Atlantic rate decreased by $25,000 to $83,500 per day, whilst the Pacific rate decreased by $14,250 to $66,000 per day.

European prices drop

In Europe, the SparkNWE DES LNG front month also continued to drop this week.

The NWE DES LNG for February delivery was assessed last week at $9.872/MMBtu and at a $0.855/MMBtu discount to the TTF.

“The SparkNWE DES LNG price for February delivery is assessed at $9.081/MMBtu and at a $0.805/MMBtu discount to the TTF,” Afghan said.

He said this is a $0.791/MMBtu decrease since last week and a $6.93 (43 percent) decline since the front month winter peak on October 13, 2023.

Spot LNG shipping rates continue to decline
Image: Spark

Levels of gas in storages in Europe remain high for this time of the year.

Data by Gas Infrastructure Europe (GIE) shows that gas storages in the EU were 81.77 percent full on January 10.

Chinese LNG demand

In Asia, Chinese LNG buyers were on a spree late January 9 with some 6-8 cargoes changing hands following the sharp decline in Asia-Pacific spot prices, according to Platts, part of S&P Global Commodity Insights.

Platts said in a report, citing sources, these 6-8 cargoes that traded in China were scheduled for delivery from end-January to early March at $9.60-$10.60/MMBtu.

Platts assessed on January 9 February JKM at $9.809/MMBtu, H1 February at $9.698/MMBtu, and H2 February at $9.920/MMBtu.

This week, JKM dropped when compared to the last week. JKM for February settled at $11.245/MMBtu on Thursday.

Most Popular

Venture Global’s Plaquemines LNG to commission fourth tank

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the fourth storage tank with LNG at its Plaquemines plant in Louisiana.

Worley gets full notice to proceed on first phase of CP2 LNG project

Australian engineering firm Worley has received a full notice to proceed from US LNG exporter Venture Global LNG under its reimbursable EPC contract for the first phase of the CP2 LNG project in Louisiana.

US FERC issues final SEIS for NextDecade’s Rio Grande LNG project

The US Federal Energy Regulatory Commission (FERC) has released a final supplemental environmental impact statement for NextDecade's Rio Grande LNG facility and the accompanying pipeline in Texas. FERC continues to conclude that approval of the projects would result in "less than significant impacts."

More News Like This

Atlantic LNG shipping rates climb, Pacific rates down

Atlantic spot LNG shipping rates increased this week, while Pacific rates declined compared to the week before.

Netherlands was top destination for US LNG cargoes in May

Dutch Gate and Eemshaven LNG terminals were the top destinations for US liquefied natural gas cargoes in May, according to the Department of Energy’s LNG monthly report.

Atlantic LNG shipping rates remain steady, European prices down

Atlantic spot LNG shipping remained steady this week, whilst European prices dropped compared to last week.

IEA: global LNG trade up 4 percent in H1

Global LNG trade growth accelerated to 4 percent (12 bcm) in the first half of 2025, with exporters adding about 60 percent more LNG supply to the market than was added in the whole of 2024, according to a new report by the International Energy Agency.