LNG

March 11 (LNGJ) - Shipping charter rates for LNG carriers in the spot market were mixed with West Of Suez rates gaining around $4,000 per week to average between $36,000 per day and $30,000 per day for vessels of between 155,000-165,000 cubic capacity. In the East of Suez charter market average rates were unchanged from last week at between $32,000 per day and $28,000 per day, according to various brokers.

The liquefied natural gas shipping sector expects a steady improvement after spot charter day rates dropped to a low of $40,000 per day in the first quarter after winter peaks of more than $180,000 per day as companies now focus on filling new US project shipment demands and forthcoming cargo tenders for Argentina in the Southern Hemisphere winter.

The LNG shipping market has firmed up in recent months and some rates in the fourth quarter have moved beyond $50,000 per day for the first time since the start of 2015, due to increased LNG production, an open arbitrage window and fewer available vessels.