Spot LNG Shipping Rates Rise for First Time in Five Weeks, Spark Says
10.27.2023 By Tank Terminals - NEWS

October 27, 2023 [LNG Prime]- Spot charter rates for the global liquefied natural gas (LNG) carrier fleet increased this week for the first time in five weeks, exhibiting a 19 percent week-on-week increase in the Atlantic, according to Spark Commodities.

 

Last week, the Atlantic rate fell to $132,500 per day, while the Pacific rate decreased to $129,500 per day.

“The Spark30S Atlantic increased by $25,000 to $157,250 per day, and the Spark25S Pacific increased by $13,250 to $142,750 per day,” Qasim Afghan, Spark’s commercial analyst told LNG Prime on Friday.

 

European LNG Prices drop

As per European LNG pricing, the SparkNWE DES LNG front month declined from the last week.

Last week, the NWE DES LNG for November was assessed at at $14.975 per MMBtu, a $0.565 discount to the TTF price.

“The SparkNWE DES LNG price for November deliveries fell $0.150 week-on-week to $14.824/MMBtu, partially driven by an increased discount to the TTF which widened by $0.31 to $0.875/MMBtu,” Afghan said.

The TTF price for November settled at $15.718/MMBtu on Thursday.

Platts assessed JKM, the price for LNG cargoes delivered to Northeast Asia, for December at $17.550/MMBtu on Thursday.

The average for November was $14.475/MMBtu, it said.

 

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