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

LNG Canada to send third cargo

Shell-led LNG Canada is expected to soon ship the third cargo of liquefied natural gas from the Kitimat facility, according to shipping data.

Hyundai LNG Shipping sells another carrier for scrap

South Korea's Hyundai LNG Shipping has sold another steam liquefied natural gas (LNG) carrier for scrap, according to brokers.

Technip Energies wins contract for Eni’s Coral Norte FLNG

France-based LNG engineering giant Technip Energies has won a contract for preliminary work on Eni's second FLNG project in Mozambique, Coral Norte (Coral North).

More News Like This

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.

Atlantic LNG shipping rates down, Pacific rates up

Atlantic spot LNG shipping rates decreased to $48,750 per day this week, while Pacific rates rose compared to the week before.

Spain was top destination for US LNG supplies in April

Spain was the top destination for US liquefied natural gas cargoes in April, according to the Department of Energy’s LNG monthly report.