LNG spot rates threaten to nosedive but period levels hold firm

Spot charter rates for LNG carriers are heading sharply downwards albeit from sky-high levels as more ships become open for hire.

Rates for vessels in the Pacific region, where more ships are being shown as available, are down at around $270,000 per for two-stroke tonnage, but some 35% lower at $185,000 per day for tri-fuel diesel-electric ships (TFDE), and over 40% reduced at closer to $120,000 per day for steam turbine LNG carriers.