Spot LNG shipping rates rose slightly this week, Spark says

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet rose slightly this week compared to the week before, according to Spark Commodities.

Last week, LNG shipping rates increased for the second week in a row. The Spark30S Atlantic increased to $165,000 per day, and the Spark25S Pacific increased to $150,250 per day.

“LNG freight rates rose again this week, with a 0.5 percent week-on-week increase in the Atlantic,” Qasim Afghan, Spark’s commercial analyst told LNG Prime on Friday.

He said the rate of increase in freight rates has decreased over the last two weeks, “showing signs that this renewed winter rally is slowing down.”

Spot LNG shipping rates slightly up this week, Spark says
Image: Spark

Afghan said that the Spark30S Atlantic increased by $750 to $165,750 per day, while the Spark25S Pacific increased by $2,250 to $152,500 per day.

European and Asian LNG prices

As per European LNG pricing, the SparkNWE DES LNG front month also slightly declined from the last week.

The NWE DES LNG for December was assessed last Friday at $14.303/MMBtu and at a $0.81/MMBtu discount to the TTF.

“The SparkNWE DES LNG price for December delivery is assessed at $14.289/MMBtu and at a $0.825/MMBtu discount to the TTF,” Afghan said.

“This is a $0.014/MMBtu reduction in DES LNG price, and the discount to the TTF widened by $0.015/MMBtu, when compared to last week’s December prices,” he said.

Spot LNG shipping rates slightly up this week, Spark says
Image: Spark

According to Platts data, JKM, the price for LNG cargoes delivered to Northeast Asia, remains under $18/MMBtu and it dropped from last week.

JKM for December settled at $17.255/MMBtu on Thursday.

Most Popular

Woodfibre LNG says project cost climbs to $8.8 billion

Canada’s Woodfibre LNG, a joint venture of Pacific Energy and Enbridge, now expects that the construction of its 2.1 mtpa LNG export facility near Squamish, British Columbia, will cost $8.8 billion. Woodfibre LNG initially expected the construction of the facility would cost $5.1 billion.

Sawgrass LNG & Power secures Barbados supply deal

Miami-based Sawgrass LNG & Power has once again been selected as the supplier of LNG to Barbados National Energy Company (BNECL).

Crown LNG, Fermeuse plan export project in Canada

US-listed Crown LNG and Fermeuse Energy revealed plans to build a liquefaction and export facility worth up to $15 billion in the Canadian province of Newfoundland and Labrador.

More News Like This

Spot LNG shipping rates continue to drop

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet continued to decrease, while European prices rose this week compared to the previous week.

Dutch Eemshaven LNG terminal hits new record

The FSRU-based LNG import facility in the Dutch port of Eemshaven, owned by Gasunie and Vopak, has reached a new record.

Spot LNG shipping rates down this week

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

Dutch terminals remained top destinations for US LNG in June

Dutch Gate and Eemshaven LNG terminals remained the top destinations for US liquefied natural gas cargoes in June, according to the Department of Energy’s LNG monthly report.