LNG long-term tanker rates hit record high
Liquefied natural gas spot tanker rates have climbed to $150,000 per day Liquefied natural gas (LNG) spot tanker rates have climbed to $150,000 per day this month as growing import needs from consumers in Asia and South America reduce numbers of available vessels, brokers said."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 said in a note via email."There are reports that short-term freight rates have strengthened further over the December figures, with vessels now fixed in the range of $150-155,000/day," he added.Norwegian shipper Stena Bulk extended the leasehold on its two 2011-built Stena Clear Sky and Stena Crystal Sky tankers for a further four years, securing a rate of $140,000/day, Drewry said.The past two years of rising demand for LNG shipments have boosted tanker earnings by more than five times compared with the rate in mid-2010 and are expected to remain strong throughout this year, shipping brokers said.While charterers may find some shelter from sky-high rates in ...
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