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Inflated LNG charter rates eased by increased ship availability

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LNG Industry,

Reuters is reporting that inflated LNG spot charter prices are easing as an increasing number of tankers are becoming available for deliveries. This development will help operators cope more easily should Asian demand spike in the next few months.

LNG charter rates usually align with the price of LNG, which has declined in the last few months, however recent charter rates have remained high (peaking at approximately US$195 000 per day last month).

The introduction of additional vessels is helping to ease this situation by lowering the rates to approximately US$160 000 per day at the end of November, and US$140 000 per day more recently. Nonetheless, rates remain higher than last year’s levels (between December and March) when they were mostly below US$100 000 per day.

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