Market analysis

LNG, spot rates reaching new heights

by Port News Editorial Staff

424,000 dollars a day to ship 160,000 cubic meters of LNG from Australia to Japan. Spot rates for LNG shipping have reached unprecedented levels due to record demand as winter approaches in the Northern Hemisphere.

From Lloyds List’s account it is clear that the demand for LNG has exceeded the supply available on board LNG carriers.

The total cost of a single LNG cargo shipment from Gladstone, Queensland, to Japan has reached over $9 million, among the highest amounts ever paid to date to secure the shipment of a raw material. Other routes, including the one linking the U.S. Gulf to Asia and Europe, have also recorded major earnings over the past two months.

Translation by Giles Foster

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