Record LNG Charter Rates Highlight Vessel Shortage Ahead of Winter

Chartering a large LNG carrier has just become more expensive — and the reason’s not demand alone, but a thinning pool of available ships. In the Atlantic basin this week, charter rates for modern 174,000-m³ LNG vessels reached around US $61,500 per day, up from about $39,750 just a week ago. Pacific rates climbed to roughly $42,250 per day for the same class of ship. What’s changed? Three factors stand out: deliveries into Egypt have hit delays, reducing turnaround; the U.S.–Asia LNG export route is lengthening voyage times; and a tighter winter demand window is pulling more tonnage out of general availability. The result: ship-owners are in a stronger position and charterers are feeling the squeeze — a reversal of earlier this year when availability was abundant and rates were depressed. For the world of shipping and logistics, the message is clear: tonnage scarcity is becoming just as important as freight demand.