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.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/07112018/lng-shipping-rates-at-all-time-high/