ShippingWatch

Record-low LNG rates could last for years

The big trading houses are experiencing a bright period, but for owners of LNG vessels, the coming years look dark. This is the opinion of many analysts, according to Bloomberg.

BW LNG carrier | Photo: BW Shipping

The price of transporting liquid natural gas (LNG) is at its lowest in four years, and several analysts such as the London-based consulting agency Wood Mackenzie and Galway Group in Houston believe that it could be years before the rates start crawling back up, reports Bloomberg.

LNG rates are currently at a level of USD 50,000 a day compared to USD 140,000 back in 2012, according to Wood Mackenzie, and this is damaging for shipowners, as evident from the large number of LNG vessels - about 15 in and around Singapore - that are idled and waiting. But the wait may be a long one.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Banks keep tabs on offshore wind – at a safe distance

In the next ten years, more than 100 new vessels for installation and maintenance of offshore wind are needed, and the offshore wind market is growing strongly. But shipping banks continue as bystanders for the time being.

Further reading

Related articles

Latest news

See all jobs