LNG carrier rates slump as much as 40% on falling Europe gas prices

摘要

THE pre-Christmas armada of Europe-bound liquefied natural gas carriers has triggered sharp reductions in charter rates, led to steep drops in gas and electricity prices and stalled further diversions of spot cargoes to the UK and Mediterranean basin. At least 15 laden LNG carriers were tracked in the past three weeks changing course from Asia and heading to Europe after gas prices there surged to fresh records on December 22, before dropping 46% by January 4. Rates to charter LNG carriers for spot voyages saw corresponding, steep falls by the end of the year. The Australia-Japan daily time charter equivalent earnings shrank 40% in the seven-day period ending January 4, while US Gulf-Europe rates dropped 35% over the same period.