LNGC spot rates fall

Thursday, 24 January 2019
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The LNGC spot charter rate has fallen below $80,000 per day in the Pacific region for the first time since late August. 

Fearnleys assessed the Pacifc spot rates at $70,000 per day this week and $85,000 per day for a 12-month timecharter.

This rate drop came after the market hit a record high of $190,000 per day during the fourth quarter of last year for spot LNGCs available in Asia.

Illustrating the rate drop, Cheniere was believed to have sublet the ‘Lena River’ for around $68,000 per day for a spot reload from Kochi, India. Unipec was also recently thought to have fixed a Shell or Cool Pool vessel in the mid-$70,000s to $80,000 per day for an early APLNG loading.

Prior to that, ExxonMobil was said to have fixed the ‘British Partner’ or ‘British Achiever’ for a 6th -10th February Gorgon or PNG cargo, for in the region of $90,000s per day.

Elsewhere, broking sources also reported that the 65,000 cu m ‘LNG Portovenere’ had been fixed to ENI for five years at $37,500 per day. 

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