Charter rates for LNG carriers are sinking despite an apparent low availability of vessels, Poten & Partners said.
Speaking in the latest of its weekly webinars, Poten’s global head of business intelligence Jason Feer described the freight market as “behaving strangely” as the limited number of LNG vessels currently available would normally signal rate rises.
Feer said a combination of other factors like the expected 30 to 40 LNG cargo cancellations per month and the 7% surge in fleet growth against a forecast backdrop of a lower 3% expansion in trade are sending bearish signs to the market.
