LNG News

Haven’t found any name, but maybe this could give some hints?:


The Garibaldi performs LNG STS operations in the Port of Long Beach, CA.
(c) Seaspan

^^this guy posted above quote in May 2023. He must’ve been on something.

Atlantic freight rates assessed for vessels with two-stroke engines capable of carrying 174,000 cubic meters of LNG, the most common type in the market, were at $4,250 per day on Tuesday, according to pricing agency Spark Commodities. Prices on Friday plunged to $3,500 a day, the lowest ever in Spark’s data which goes back five years.

The Atlantic rates are down 82% since the start of the year, and have dropped over 90% from the same time last year.

Rates for the same class of ship on Pacific routes have nearly halved so far this year, dropping to $11,000 a day on Tuesday, Spark’s data showed. That is lowest ever for its dataset and is down nearly 80% from last year.

“The global LNG fleet grew further in 2024, but global LNG loadings have only inched higher, leading to this oversupply of vessels as the market waits for a large increase in LNG export capacity over the next 18 months,” said Deng Xiaoyi, deputy head of global LNG freight pricing at Argus.

Deng added that charterers with extra shipping capacity at hand and shipowners are competing to let out their available vessels.

“Firms with extra shipping capacity have been willing to heavily reduce their offers rather than idling their vessels, to help them to partly recover their operational costs and cut their losses.”

For the older but still common vessel with tri-fuel diesel engines carrying 160,000 cubic meters of LNG, Atlantic rates were negative for the past week, hitting a record low of minus $2,750 a day on Monday before paring losses to reach minus $1,000 a day on Tuesday, said Spark Commodities analyst Qasim Afghan.

Wonder how much the Crowley LNG ship is going to want per day :joy:

A lot since it will have no competition.

The only limit on what it can charge will be competition from foreign LNG being delivered on foreign ships.

But it doesn’t need to exist. So why would it be worth more than the foreign ships?

The delivered cost of LNG to US ports should be about the same on US gas and Jones Act ships, or foreign gas and foreign ships.

Maybe US government purchases might have a Buy American requirement. That might inflate what a Jones Act ship can charge.

Perfectly good, near new (blt. 2004).LNG carrier available for US buyers.
Hurry, offer only last this week:


https://www.shipspotting.com/photos/2941036?page=1&perPage=8&navList=moreOfThisShip&imo=7361922&lid=1526422

Membrane tanks on LNG-fuelled vessels:

PS: Does it also function with bio-gas?