There appears to be even more upside for rates, with a ship chartered for more than US$150,000 a day for a journey in the Atlantic Ocean starting in the second half of December, according to traders with knowledge of the matter.
The 30-day moving average for North American LNG exports rose to the highest level on record on Thursday, up about 50% year-over-year, according to ship-tracking data compiled by Bloomberg. Spiking freight rates are a turnaround after the market languished for most of the year due to a glut of ships.
However, the surge has resulted in some LNG buyers seeking to delay loadings in the Atlantic basin, according to Spark Commodities. Separately, the cost to hire a tanker in the Pacific Ocean is also the highest in more than a year.
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