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Spark: spot LNG freight rates softened this week

By LNG Prime Staff
Spark spot LNG freight rates softened this week
For illustration only (Image: GasLog)

Spot charter rates for the global LNG carrier fleet softened this week after muted activity so far in July, according to Spark Commodities.

Spark’s Atlantic rate for 160,000-cbm TFDE carriers held around $73,000 per day throughout the last week, whilst the spot rate on the Pacific route was steady around $71,250 per day.

The spot rate on the Atlantic Spark30 route fell $2,250 per day week-on-week to reach $70,750 per day, Edward Armitage, Spark’s commercial analyst, told LNG Prime on Friday.

“Meanwhile, the rate on the Pacific Spark25 route fell $2,000 per day week-on-week to $69,250 per day, in the first weekly drop since May,” he said.

As per the SparkNWE DES LNG front month differential to the TTF, it moved to $(0.335)/MMBtu, the narrowest discount since December 2021, with an implied outright of $8.394/MMBtu, Armitage said.

“The SparkNWE forward curve, however, continues to price in discounts of over $1/MMBtu returning this winter from November,” he said.

The TTF price for August settled at $8.550 per MMBtu on Thursday, while the JKM spot LNG price for August settled at $11.910 per MMBtu.

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