Rate reports: LNG spot rates drop 20% in a week

LNG shipping rates were softer last week: Clarksons assessed the average spot rate for a 174,000-m³ LNG carrier falling 24% week-on-week to US$32,500 per day, and a 160,000-m³ tri-fuel diesel-electric LNG carrier falling 19% to US$25,500 per day.

It placed steam turbine tonnage at US$8,000 per day. Clarksons attributed the weakness to the Atlantic market, while describing East Asian markets as more stable in its weekly commentary.

Braemar’s LNG report described activity as steady across both basins while pointing to rate pressure in the West linked to vessel availability and limited prompt requirements.

In its headline freight assessment, Braemar put spot bid-ask indications for 170,000-m³-plus two-stroke LNG carriers at US$30,000–US$40,000 per day in the East and US$18,000–US$30,000 per day in the West, with tri-fuel and dual-fuel diesel-electric LNG carriers (155,000–165,000 m³) assessed at US$18,000–US$28,000 per day in the East and US$16,000–US$26,000 per day in the West.