LNG Shipping Market Recovering
LNG The LNG market showed some signs of recovery this week, with increased fixing activity absorbing some of the available tonnage across both basins. Despite this, competition for cargoes remains high and charterers continue…
The LNG market showed some signs of recovery this week, with increased fixing activity absorbing some of the available tonnage across both basins. Despite this, competition for cargoes remains high and charterers continue to hold negotiating leverage, limiting the extent of upward movement in spot rates.
On the BLNG1 Australia–Japan route, rates increased by $4,800 week-on-week to settle at $32,800/day. The Pacific market firmed gradually as vessel availability tightened slightly and several late November and early December requirements emerged.
The BLNG2 US Gulf–Continent route increased by $4,000 to close at $25,400/day. Increased fixing activity helped absorb some of the available Atlantic tonnage, although continued competition between owners kept the recovery in rates measured.
Similarly, the BLNG3 US Gulf–Japan route gained $10,300 week-on-week to settle at $58,900/day. Eastbound cargoes continue to command a premium, although limited arbitrage economics are restricting further upside.
This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →
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