News Before It's News
About us | Ocnus? |

Front Page 
 Dark Side
 Defence & Arms
 Light Side

Business Last Updated: Nov 7, 2018 - 10:12:16 AM

LNG shipping rates hit all-time high ahead of winter traffic
By International Shipping News 07/11/2018
Nov 7, 2018 - 10:11:18 AM

Email this article
 Printer friendly page

The cost of shipping liquefied natural gas (LNG) has hit $200,000 a day, exceeding a 2012 peak of $180,000 a day.

The headline average is $170,000 for Asia Pacific, according to analysts at Jefferies, up around 20 percent from two weeks ago.

The headline average for the Atlantic Basin remains around $140,000 a day.

This compares to an average of around $80,000 to $85,000 a day in both basins at the end of last year, at the height of winter, according to the IGU.

LNG shipping rates tend to go up during the Northern Hemisphere winter and summer when gas is used for heating or cooling.

But rates have also jumped due to supply from new plants, longer distances travelled and anticipation of higher prices prompting shippers to lock in longer-duration contracts.

A recovery in the shipping rates from about three years of depressed levels has begun to boost earnings of LNG shipping companies such as Gaslog, Golar and Hoegh .

Source:Ocnus.net 2018

Top of Page

Latest Headlines
Box Carriers Gaining from Oil Price Slump, Brexit and Robust Rates
Zimbabwe tourism sector counts losses in the wake of protests
Fix the euro!
Germany scorns 'unusual' US threat on Russia pipeline
How Islamic Finance Could Save the Planet
China Will Boycott Foreign Brands
Trump claims that a national security exception allows him to block imports. Is he right?
Bolloré & APM Terminals out of Douala
Mozambique: Credit Suisse may have to pay up to US$300M
Fairytale castle project turns to nightmare as Turkish economy slumps