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LNG Shipping Reaches All-Time High Traffic Density

LNG Shipping  Reaches All-Time High Traffic Density
The cost of shipping liquefied natural gas (LNG) has hit 200 thousand a day, exceeding a 2012 peak of 180 thousand Dollar a day.

The headline average is 170 thousand Dollar 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 thousand Dollar a day. This compares to an average of around 80 thousand Dollar to 85 thousand Dollar 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 .

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