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.

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