LNG

European natural gas and LNG prices soared again and sent a chill through the mid-summer energy markets with elevated winter prices arriving early and similar to seven months ago while North Asia spot values jumped amid the expectation of more competition for cargoes.

March 19 (LNGJ) - Shipping charter rates for LNG carriers in the spot market reached global parity levels as West Of Suez rates declined by $4,000 per week to average between $32,000 per day and $28,000 per day for vessels of 155,000-165,000 cubic metres capacity. In the East of Suez charter market average rates were at the same level after being unchanged from last week, according to various brokers. One-year charter rates for the most modern vessels increased to $49,000 per day.

Dec 24 (LNGJ) - Shipping charter rates for LNG carriers in the spot market have edged higher as Northern Hemisphere winter market demand increased. Rates were quoted at an average of between $158,000 per day and $162,0000 per day West of Suez. Spot rates of $148,000 to 152,000 were heard for the East of Suez charter market for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charters were also little changed for the most modern vessels and were available for around $47,000 per day.