LNG

European liquefied natural gas prices rebounded for the week after four straight weeks of declines with the wholesale market price defying milder weather conditions, high storage and the most optimum spell this winter for the use of wind power while North Asian spot cargo prices also edged higher.

London-based global shipbrokers Simpson Spence Young have given an upbeat outlook for LNG carrier charters and vessel sales and purchases in the coming year after a record-breaking 2022.

International law firms are forecasting more dispute resolution cases in the liquefied natural gas business as supply and demand trading contracts increase along with new infrastructure projects.

The liquefied natural gas market continued to display seasonally high prices for shipments to China, Japan and South Korea as cargo liftings stayed above 100, while European benchmark LNG values slipped after previously hitting 2021 highs.

April 23 (LNGJ) - Shipping charter rates for LNG carriers in the spot market increased for West Of Suez by around $7,000 per day to average between $62,000 per day and $58,000 per day for vessels of 155,000-165,000 cubic metres capacity. In the East of Suez charter market average rates rose by around $9,000 per day to between $52,000 per day and $48,000 per day, according to various brokers. One-year charter rates for the most modern vessels also increased to around $66,000 per day.

April 8 (LNGJ) - Shipping charter rates for LNG carriers in the spot market increased for West Of Suez by around $3,500 per day to average between $41,500 per day and $37,500 per day for vessels of 155,000-165,000 cubic metres capacity. In the East of Suez charter market average rates rose by around $3,000 per day to between $37,000 per day and $33,000 per day, according to various brokers. One-year charter rates for the most modern vessels also increased to around $60,000 per day.

Oct 29 (LNGJ) - Shipping charter rates for LNG carriers in the spot market increased over the past week by a further $20,000 per day. Rates were quoted at an average of between $100,000 per day and $110,000 per day West of Suez. The same levels of spot rates were also talked about for the East of Suez charter market for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers.

July 9 (LNGJ) - Shipping charter rates for LNG carriers in the spot market are little changed over the past week. Rates were quoted at an average of between $33,000 per day and $35,000 per day West of Suez and at rates of between $29,000 per day and $32,000 per day East of Suez for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charters were steady for the most modern vessels and were seen at rates of around $44,000 per day.

June 11 (LNGJ) - Shipping charter rates for LNG carriers in the spot market are little changed over the past week. Rates were quoted at an average of between $33,000 per day and $31,000 per day West of Suez and at rates of between $31,000 per day and $29,000 per day East of Suez for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charters were steady for the most modern vessels and were seen at rates of around $43,000 per day.

March 12 (LNGJ) - Shipping charter rates for LNG carriers in the spot market have levelled off and are little changed from a week ago. Rates were again quoted at an average of between $39,000 per day and $34,000 per day West of Suez and $38,000 per day and $33,000 per day East of Suez for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charters have dropped for vessels of between 155,000-160,000 cubic metres capacity and are now seen at around $55,000 per day.