Spot LNG shipping rates continue to decline

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet fell for the fourth week in a row, according to Spark Commodities.

Last week, spot LNG freight rates continued their downward trend.

The Spark30S Atlantic rate fell $11,500 per day week-on-week to reach $135,500 per day, while the spot rate on the Pacific Spark25 route fell $32,750 per day week-on-week to reach $135,550 per day.

According to Spark’s data on Friday, the Atlantic rate fell $3,000 to $132,500 per day, while the Pacific rate decreased $6050 to $129,500 per day.

Spot LNG shipping rates continue to decline
Image: Spark

European LNG prices drop

As per European LNG pricing, the SparkNWE DES LNG front month dropped from the last week.

Last week, the Spark NWE DES LNG for November rallied over 40 percent to $15.563/MMBtu for November deliveries on heightened geopolitical tensions.

NWE DES LNG for November was assessed on Thursday at $14.975 per MMBtu, a $0.565 discount to the TTF price.

The TTF price for November settled at $15.563/MMBtu on Thursday, while the JKM spot LNG price for December settled at $18.245/MMBtu.

The JKM LNG price rose more than $3/MMBtu from last week.

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