Surging demand for LNG and increased shipments of U.S. gas to Asia are sending spot LNG freight rates to new records. Surging demand for LNG and increased shipments of U.S. gas to Asia, including China, are sending spot LNG freight rates in the Asia Pacific region to new records. This week, Pacific spot LNG freight rates jumped above $300,000 per day to a new record high, as rates in both the Pacific and Atlantic basins continued to move sharply higher, LNG freight assessor Spark Commodities said. This beat the previous record for spot LNG rates set last winter when a cold snap in Asia drove LNG prices and freight rates to records. Now LNG freight rates have also exceeded last winter’s all-time highs and are five times higher than in early September.

Source: The North Africa Journal November 21, 2021 06:06 UTC