LNG

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

May 13 (LNGJ) - Shipping charter rates for LNG carriers in the spot market were unchanged in the past week, though still at high levels in the Atlantic and Pacific basins. Spot charters for West Of Suez were quoted at 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 were at between $70,000 per day and $74,000 per day, according to various brokers. However, one-year charter rates for the most modern vessels have edged up £2,000 per day to around $77,000 per day.

“On the very prompt, charterers were willing to pay almost any price to secure a vessel. Specifications no longer seemed important, but rather any vessel was considered against the most lucrative arbitrage we have ever seen in the LNG market,” so recalled one shipbroker headquartered near the Tower of London of last month’s events.

Nov 19 (LNGJ) - Shipping charter rates for LNG carriers in the spot market were unchanged in the past week as the Northern Hemisphere winter market demand continued to be firm. Rates were quoted at an average of between $109,000 per day and $115,000 per day West of Suez. The same levels of spot rates were also heard for the East of Suez charter market for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charters were also little changed for the most modern vessels and were available for around $47,000 per day.