LNG spot earnings ease West, tighten East

Clarksons reported that the LNG carrier spot market remained firm in early December, even as Atlantic earnings edged lower from recent highs.

The latest Shipping Intelligence Weekly noted, “The LNG carrier spot market remained firm this week but rates saw some modest easing in the Atlantic; the average spot rate for a 174,000-m³ LNG carrier fell by 10% week-on-week to US$98,500/day but remains around four times the early October level,” equivalent to about US$100,000 per day.

Clarksons highlighted a divergence between basins.

In the Atlantic, after several weeks of strong fixtures, the spot market took a pause and rates eased from their recent peaks, while in the East, the market was described as steady, with available tonnage for end-December tightening.

Braemar’s LNG desk characterised overall activity as moderate, with a continuing but thinner flow of fresh business West of Suez and a more balanced tone as earlier upward pressure on Atlantic rates gave way to a narrower range of fixtures.

Trade flows from the key producing regions underlined this picture.

Clarksons observed that ex-Houston freight levels were unchanged week-on-week, but underlined that tonnage supply “remains tight, with only a handful of J19s open in the USG as 2026 approaches.”

The report added contract of affreightment nominations for January had begun to appear and early indications suggest January is set to be similar to, or tighter than, December.

Ex-Al Jubail rates were also described as steady, with westbound activity quiet and eastbound demand limited to a handful of smaller cargoes into Asia, offering only limited respite for prompt units in the region.