LNG shipping rates have bounced off bottom but they’re still very weak
- Spot rates have jumped off historic lows hit in January and in February; period rates have also increased, but to a much lesser degree
- Current rates remain much lower than normal in both the spot and period markets despite recent gains
- Supply-demand scenario looks very difficult for 2025. Clarksons expects deliveries this year of 13.3% of existing fleet, versus tonne-mile demand growth of just 3.9%
Good news for LNG shipping: Spot rates have increased substantially from lows reached in recent months. Bad news for LNG shipping: Spot rates are still half of what they normally are, and a true turnaround is unlikely before 2026 at the earliest
