The cost of shipping LNG has recorded $200,000 a day, surpassing the 2012 peak, which had hit $180,000 a day. LNG shipping rates have the tendency to increase during winter and summer in the northern hemisphere, as at that time gas is used for heating or cooling.
As analysts at Jefferies reported, the average is $170,000 for Asia Pacific, which signifies an increased of about 20% from two weeks ago. Regarding the Atlantic Basin, the average remained at $140,000 a day.
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As far as both basins are concerned, the average is at $80,000 to $85,000 a day at the end of last year, at the height of winter, according to the IGU.
The rates have also increased because of supply from new plants, longer distances and expectation of higher prices that make shippers sign contracts of longer duration.
Shipping rates are now recovering from about three years of low levels. The increase was due to a boost in earnings of LNG shipping companies such as Gaslog, Golar and Hoegh, Reuters reported.
LNG shipping rates have the tendency to increase during winter and summer in the northern hemisphere, as at that time gas is used for heating or cooling.
