Hellenic Shipping News: Growing LNG supply and US-Asia trades soak up shipping glut

1 May 2018: “Typically, around 1.3 LNG ships are required to transport every 1 million mt of LNG supply, but for all cargoes loaded from Sabine Pass, the longer routes to Asia required 1.76 ships for every 1 million mt of LNG, according to Rolv Stokkmo, LNG Shipping & Product Broker at Poten & Partners.”

““The markets of 2019 and 2020 will be short shipping,” Stokkmo said.”

“He said last year spot freight rates had risen gradually and at one point touched a high of $100,000/day, but then the PNG LNG project was hit by an earthquake in February and freight rates crashed.”

“As PNG has started up again, and the market goes into the June-July period with new LNG supply trains coming online, freight rates will pick up again to last year’s levels of over $100,000/day, Stokkmo said.”

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