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LNG shipping rates at all-time high

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LNG Industry,

According to Reuters, the cost of LNG shipping has exceeded 2012 highs of US$180 000 per day. The daily rate currently stands at approximately US$200 000.

The Asia Pacific headline average is currently US$170 000 per day, and US$140 000 per day for the Atlantic Basin. Averages in both basins at the end of 2017 were reportedly US$80 000 to US$85 000 per day.

Rates are expected to rise at this time of year in the Northern Hemisphere as winter sets in, however rates have also been buoyed by: new facilities and capacity; longer shipping distances; and also by the expectation of future price rises which have led to suppliers signing up to longer-duration contacts.

This recovery in shipping rates from the last three years of declining levels has led to a rise in earnings for major shipping companys. Gaslog, Golar and Höegh, in particular, are well positioned to benefit.

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