LNG Tanker Rates Spike

Spot rates for liquefied natural gas tankers rose to $150,000 per day this month, Reuters reported, citing Drewry Shipping analyst.

“The LNG freight market is currently quite strong due to increasing LNG demand in both Europe and Asia and less availability of prompt available tonnage,” LNG shipping analyst Pranay Shukla at Drewry Shipping Consultants said.

“Short-term freight rates in December 2011 averaged at $125,000/day, up from $68,000/day averaged in December 2010,” he added.

LNG tankers will earn record rates in 2012 as demand reaches an all- time high, beating returns from vessels carrying oil and coal, shipping hedge fund Tufton Oceanic recently said.

[mappress]
LNG World News Staff, January 17, 2012