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LNG: Spot Atlantic LNG Charter Rates Fall Further on Capacity Overhang: IEA

LNG
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Spot Atlantic LNG charter rates have fallen 80% since the start of the year to a record low of $5000/day as a capacity overhang intensified in early 2025, according to IEA analyst Greg Molnar.

  • LNG charter rates have been on a steep downward trend from just over $200k/d in Nov23 and are not sufficient to cover operating expenses of around $15k/day.
  • Rates fell to an average of around $50k/d in 2024 with an overhang in LNG carrier capacity and despite lengthier trading routes due to canal issues.
  • Rapid growth in the global LNG fleet by 10% outpaced LNG trade growth of 2.5% in 2024. A record new 88 vessels are expected in 2025 while trade growth is concentrated on the shorter US-EU route.
  • Current forwards suggest LNG charter rates will remain depressed throughout 2025, to average $25k/day. 

 

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Spot Atlantic LNG charter rates have fallen 80% since the start of the year to a record low of $5000/day as a capacity overhang intensified in early 2025, according to IEA analyst Greg Molnar.

  • LNG charter rates have been on a steep downward trend from just over $200k/d in Nov23 and are not sufficient to cover operating expenses of around $15k/day.
  • Rates fell to an average of around $50k/d in 2024 with an overhang in LNG carrier capacity and despite lengthier trading routes due to canal issues.
  • Rapid growth in the global LNG fleet by 10% outpaced LNG trade growth of 2.5% in 2024. A record new 88 vessels are expected in 2025 while trade growth is concentrated on the shorter US-EU route.
  • Current forwards suggest LNG charter rates will remain depressed throughout 2025, to average $25k/day. 

 

Keep reading...Show less