Asian utilities shun spot LNG, snap up 6-month charters instead

Monday, 28 November 2022

Deterred by high spot prices, Asian utilities have turned to term LNG charters to refill storage ahead of the winter. Charters for 6-12 months were snapped up in a rapid manner, creating a vessel shortage which, according to S&P Global, has driven up spot freight rates to around $300,000 per day from under $50,000 per day in just seven weeks’ time. 

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