LNG

Feb 4 (LNGJ) - Shipping charter rates for LNG carriers in the spot market have plunged for a third week by up to $24,500 dollars per day. Rates were quoted at an average of between $87,000 per day and $83,000 per day for vessels of between 155,000-165,000 cubic capacity in the West of Suez market. In the East of Suez charter market, rates were offered for ships at between $82,000 per day and $78,000 per day, according to various brokers. One-year time charters for the most modern vessels were available for around $49,000 per day.

Teekay Tankers, the oil and products shipping arm of Teekay Corp. and affiliate of Teekay LNG, said the company had made extensive preparations to meet the International Maritime Organization cap on sulfur emissions set to come into force on January 1.