Spot charter rates for the global liquefied natural gas (LNG) carrier fleet rose slightly this week compared to the week before, according to Spark Commodities.
Last week, LNG shipping rates increased for the second week in a row. The Spark30S Atlantic increased to $165,000 per day, and the Spark25S Pacific increased to $150,250 per day.
“LNG freight rates rose again this week, with a 0.5 percent week-on-week increase in the Atlantic,” Qasim Afghan, Spark’s commercial analyst told LNG Prime on Friday.
He said the rate of increase in freight rates has decreased over the last two weeks, “showing signs that this renewed winter rally is slowing down.”
Image: Spark
Afghan said that the Spark30S Atlantic increased by $750 to $165,750 per day, while the Spark25S Pacific increased by $2,250 to $152,500 per day.
As per European LNG pricing, the SparkNWE DES LNG front month also slightly declined from the last week.
The NWE DES LNG for December was assessed last Friday at $14.303/MMBtu and at a $0.81/MMBtu discount to the TTF.
“The SparkNWE DES LNG price for December delivery is assessed at $14.289/MMBtu and at a $0.825/MMBtu discount to the TTF,” Afghan said.
“This is a $0.014/MMBtu reduction in DES LNG price, and the discount to the TTF widened by $0.015/MMBtu, when compared to last week’s December prices,” he said.
Image: Spark
According to Platts data, JKM, the price for LNG cargoes delivered to Northeast Asia, remains under $18/MMBtu and it dropped from last week.
JKM for December settled at $17.255/MMBtu on Thursday.
