Chartering prices of LNG carriers will be lower than anticipated due to plunging of fuel prices in Japan, Oslo-based investment bank Fearnley Securities AS said in a report, Bloomberg informs.
The average daily charter rates for modern carriers are expected to equal to $125,000 in the last quarter of this year, while in the first quarter of 2013 they will remain under $150,000. Based on Fearnley’s analysis, the older LNG vessels will earn $80,000 a day.
Fuel prices in Japan are about to hit their lowest ranks in the last three years, resulting in too high rates to profit from transporting LNG to Asia.
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LNG World News Staff, September 21, 2012