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USGC LNG Freight Rates Sink to Multi-Month Low: Platts

LNG

LNG freight rates from the USGC have fallen to a four-month low, according to Platts, amid falling demand and an increased supply of vessels.

  • The lack of arbitrage opportunities between basins, coupled with stagnant demand, has been forcing down freight rates.
  • This has boosted the availability of vessels and added downside to freight rates.
  • While the ongoing rerouting of freight to the Cape of Good Hope from Suez could add some support, the record high inventories in Europe and subsequent demand lull will likely negate the lengthened shipping time on freight costs, Platts said.
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