LNG

March 25 (LNGJ) - Shipping charter rates for LNG carriers in the spot market increased for West Of Suez by $2,000 per day to average between $34,000 per day and $30,000 per day for vessels of 155,000-165,000 cubic metres capacity. One-year charter rates for the most modern vessels also increased to around $54,000 per day from last week’s $49,000 per day. In the East of Suez charter market average rates were unchanged at between $32,000 per day and $28,000 per day, according to various brokers.

The global LNG shipping market continued to tighten as a result of demand increasing by around 11 percent, led by China, South Korea and India in contrast to the supply of new vessels that increased by just 5 percent.