Spark: LNG freight rates remain above $70,000 per day

Spot charter rates for the global LNG carrier fleet remain above $70,000 per day in both basins, according to Spark Commodities.

The Atlantic Spark30S and the Pacific Spark25S rates for 160,000-cbm TFDE carriers rose to $50,750 per day in the middle of June.

The spot LNG freight rates continued to increase and the Atlantic rate hit $72,000 per day on June 27, while the Pacific rate reached $68,500 per day.

“After a rally in June, spot LNG freight rates had a quiet first week of July with activity muted,” Edward Armitage, Spark’s commercial analyst, told LNG Prime on Friday.

“The spot rate on the Atlantic Spark30 route held around $73,000 per day throughout the week, whilst the spot rate on the Pacific Spark25 route was steady around $71,250 per day,” he said.

As per the SparkNWE DES LNG front month, it fell below $10 per MMBtu on growing European storage levels.

“SparkNWE DES LNG for Aug23 deliveries is back under $10, down $0.95 this week to $9.83 per MMBtu, with the basis to the TTF stable at $(0.475) per MMBtu,” Armitage said.

The TTF price for August settled at $10.353 per MMBtu on Thursday, while the JKM spot LNG price for August settled at $12.075 per MMBtu.

Most Popular

Yang Ming books LNG-powered containerships in South Korea

Taiwan’s Yang Ming Marine Transport has decided to order LNG dual-fuel container vessels from South Korea's Hanwha Ocean as part of its ongoing fleet optimization plan.

Sabah to take stake in Petronas’ third FLNG

SMJ Energy, owned by the Sabah government, has signed a heads of agreement with Malaysian energy giant Petronas to take a 25 percent stake in the latter's third floating LNG production unit.

Japan’s LNG imports drop in June

Japan’s liquefied natural gas (LNG) imports dropped by 2.8 percent in June compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

More News Like This

Atlantic LNG shipping rates climb this week

Atlantic spot LNG shipping rates rose this week, whilst European prices dropped compared to last week.

GECF: LNG imports surge in June

Global liquefied natural gas (LNG) imports surged by 9.4 percent year-on-year in June, marking the strongest annual increase since November 2022, the Gas Exporting Countries Forum said in its latest report.

Atlantic LNG shipping rates dip, European prices up

Atlantic spot LNG shipping rates decreased this week, marking the largest week-on-week decline since January.

Spot LNG shipping rates dropped this week

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