Bloomberg: LNG Tanker Rates Fall 17% on Increase in New Vessels

“Charter rates for liquefied natural gas tankers on short-term hauls declined 17 per cent last year because of an increase in new vessels, Poten & Partners said. Rates to rent LNG tankers fell to about $46,600 a day for steam turbine vessels of 138,000 to 150,000 cubic metres in capacity, Poten, a US energy consultant, said in a report e- mailed yesterday. ‘With a record number of new builds entering the fleet, market needs were easily accommodated and except for a few instances, prompt ships were always available,’ according to the report. ‘Despite a robust cargo market with record numbers of spot shipments being diverted from the Atlantic Basin to destinations east of Suez, chartering activity remained muted through July.'”