Recent data from Spark Commodities shows a sharp surge in LNG shipping rates from North America. Last Friday, daily charter rates for vessels transporting LNG from the U.S. to Europe rose by approximately 12% to $130,750—the highest level since December 2023. Earlier in the week, spot charter rates for the same route jumped 19% to $98,250 per day, marking a January 2024 peak.
The spike in spot rates for LNG carriers is driven by record-high LNG exports from North America, which have tightened vessel availability. Ship-tracking data reveals that the 30-day moving average of North American LNG exports hit an all-time high last Thursday, up roughly 50% year-on-year. This sudden rate surge has reversed the market slump caused by vessel oversupply for most of the year.
Since early October, as new North American projects ramp up production, demand for vessels to transport the super-chilled fuel—including to Asian buyers—has fueled a sustained rebound in rates. Industry sources indicate further upside potential, with one Atlantic-route LNG carrier scheduled for late December already secured at over $150,000 per day. However, Spark Commodities notes that the rapid rate increase has prompted some LNG buyers to delay loadings in the Atlantic basin. Meanwhile, Pacific-route LNG carrier rates have also climbed to a one-year high.
**Related Hong Kong-listed LNG Stocks:** - **COSCO SHIP ENGY (01138)**: The company has diversified operations spanning oil tankers, LNG, LPG, and chemical transportation, alongside terminal management. Its LNG shipping segment contributed a steady RMB 674 million in net profit attributable to shareholders in the first three quarters of 2025, flat year-on-year. - **CIMC ENRIC (03899)**: In April 2025, its subsidiary Nantong CIMC Sinopacific Offshore & Engineering secured an order for a 20,000-cbm LNG bunkering vessel from a European shipowner, slated for delivery in April 2027. The company has also delivered China’s first 14,000-tonne LNG swap-enabled clean-energy river-sea dry bulk carrier and a 7,600-cbm LNG bunkering vessel to a Canadian client this year. With rising global demand for green marine fuels, CIMC ENRIC continues advancing LNG, methanol, and ammonia-powered vessel R&D. On October 10, it announced new contracts with Singapore’s Purus for two 18,900-cbm LNG bunkering ships (to be leased to Shell) and with GSX Energy for two firm + two optional 20,000-cbm LNG bunkering vessels. - **CDB Leasing (01606)**: The company entered financing lease agreements for four LNG carriers in 2024.
Comments