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LNG shipping rate spikes to continue into 2019

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LNG Industry,

Reuters is reporting that LNG shipping prices have spiked for September and are likely to stay high moving into 2019.

A primary cause of the spikes has been rising production and concerns that demand will outpace supply.

The rate for vessels shipping LNG from the Atlantic Basin to Asia jumped to US$90 000 – 95 000 a day from US$75 000 a day at the end of August.

Reuters reporters suggest that rates, which broadly hovered around US$30 000 to US$40 000 a day from 2015 – 2017, have risen due to longer distances covered to transport LNG from new terminals in the US and Arctic Russia, surging demand in China and a limited number of ships.

LNG shipping experts expect this trend to continue for the foreseeable future (at least 2019, or longer).

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