LNG

Sept 30 (LNJ) - Shipping spot charter rates for LNG carriers soared in the West of Suez market with rates rising by up to $18,500 per day to be between $82,000 per day and $78,000 per day for vessels of 155,000-165,000 cubic metres capacity.

   East of Suez spot charter rates showed a more moderate increase of $1,500 per day to be quoted by shipbrokers at between $64,000 per day and $60,000 per day. One-year charter rates for the most modern vessels were unchanged at about $93,000 per day.

June 24 (LNGJ) - Shipping charter rates for LNG carriers in the spot market rose again in the past week by around $8,000 per day in the West of Suez market to 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 were up $6,000 per day to between $66,000 per day and $62,000 per day, according to London brokers. One-year charter rates for the most modern vessels also increased by $3,000 per day to around $82,000 per day.

“In the LNG carrier charter market, brokers noted that some owners soon became no longer interested in trying to cash in on what had been a prosperous spot market to instead focus on term discussions,” according to the latest London broker report on the past month’s events.

May 28 (LNGJ) - Shipping charter rates for LNG carriers in the spot market were steady. Rates were quoted at an average of between $33,000 per day and $30,000 per day West of Suez and at rates of between $32,000 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.

   Brokers said West of Suez activity included a handful of fixtures and free-on-board transactions. However, the market in the West and East remained on the long side with a combination of owner-controlled ships and trader relets available throughout June. “There is still a slightly bearish sentiment as a consequence,” said one broker report. 

Flex LNG, the growing LNG shipping company with four vessels operating and nine others on order and whose largest shareholder is a company controlled by Norwegian magnate John Fredriksen, posted a rise in net profits as fourth-quarter spot LNG cargo rates reached record levels then slumped in the first quarter of 2019.