Hellenic Shipping News: AWILCO LNG: LNG Shipping Rates Increased During The Third Quarter

18 November 2017: “Following increasing production volumes from new plants and the open arbitrage, LNG shipping rates increased in Q3. The quarter started with day rates reported at USD 41,000 and USD 33,000 West and East of Suez respectively, and ended at USD 47,000 and USD 39,000, according to Fearnley. At the end of Q3 eight vessels were available in the spot market across all basins, a reduction from ten at the start of Q3. Average fixture duration in September was 49 days, compared to 26 in the first half of 2017, according to Poten. 30 MTPA of new LNG capacity is scheduled for start-up in 2017. In Q1 construction of Gorgon T3 and Sabine Pass T3 was completed. Sabine Pass T4 commenced production in August, and Wheatstone T1 followed in October 2017.” To read full article, click here.