LNG

Awilco LNG, the small Norwegian-based shipping provider with two vessels, managed to swing back to profit in the third quarter as the ships returned from dry dock and said that overall LNG shipping market rates were still at healthy levels though vessels may soon be used for storing LNG with land-based facilities full in the European Union.

European and Asian liquefied natural gas prices dropped with the February 2024 Japan-Korea Marker for North Asian spot cargoes being the highest in the complex as vessel charter rates plunged in a week when oil also lost $10 a barrel and European Union natural gas storage was full and temperatures were mild for the time of year.

There is an enormous divide in charter rates in discussions for liquefied natural gas carriers up until September 2023 compared with October to December.

GasLog Partners, the Greek LNG shipping company with a fleet of 15 vessels, reported a third-quarter increase in revenues and profits as global demand gathered pace.

Sept 9 (LNGJ) - Shipping spot charter rates for LNG carriers dropped in the past week by $3,000 per day to between $67,000 per day and $63,000 per day in the West of Suez market for vessels of 155,000-165,000 cubic metres capacity.

   East of Suez spot charter rates fell by the same amount to be quoted at between $64,000 per day and $60,000 per day, according to London brokers. One-year charter rates for the most modern vessels were unchanged at about $93,000 per day.

July 29 (LNG) - Shipping spot charter rates for LNG carriers were unchanged for a second week. Rates in the West of Suez market were quoted at between $67,000 per day and $63,000 per day for vessels of 155,000-165,000 cubic metres capacity.

   East of Suez spot charter rates were between $55,000 per day and $51,000 per day, according to London brokers. One-year charter rates for the most modern vessels were quoted at around $93,000 per day.

July 2 (LNGJ) - Shipping charter rates for LNG carriers in the spot market were firm in the past week in the West of Suez market at between $82,000 per day and $78,000 per day for vessels of 155,000-165,000 cubic metres capacity.

   For vessels East of Suez spot charter levels declined by around $6,000 per day to between $60,000 per day and $56,000 per day, according to London brokers. One-year charter rates for the most modern vessels increased by $3,000 per day to around $85,000 per day.

May 27 (LNGJ) - Shipping charter rates for LNG carriers in the spot market declined in the past week by up to $6,000 per day in the West of Suez market to between $59,000 per day and $56,000 per day for vessels of 155,000-165,000 cubic metres capacity. For vessels East of Suez fixture levels were down by about $8,000 per day and were quoted at between $61,000 per day and $58,000 per day, according to London brokers. One-year charter rates for the most modern vessels were unchanged at around $77,000 per day.

May 20 (LNGJ) - Shipping charter rates for LNG carriers in the spot market declined in the past week by around $12,000 per day in both the West of Suez market and East of Suez. Fixtures in the Atlantic and Pacific basins were quoted at between $69,000 per day and $65,000 per day for vessels of 155,000-165,000 cubic metres capacity. One-year charter rates for the most modern vessels were unchanged at around $77,000 per day.

May 6 (LNGJ) - Shipping charter rates for LNG carriers in the spot market were still at high levels in the Atlantic and Pacific basins. Spot charters for West Of Suez increased  again on the week by around $2,000 per day to average between $75,000 per day and $79,000 per day for vessels of 155,000-165,000 cubic metres capacity. In the East of Suez charter market average rates also rose by around $2,000 per day to between $70,000 per day and $74,000 per day, according to various brokers. One-year charter rates for the most modern vessels also increased to around $75,000 per day.