LNG freight rates from the US Gulf Coast to Northwest Europe and Japan/Korea have hit their lowest levels since August, as per assessments by Platts. The rates, at $1.27/MMBtu and $2.77/MMBtu respectively on Dec. 20, reflect a lack of demand and an increased number of vessels in the spot market. The stagnant demand, absence of arbitrage opportunities, and redirected vessels due to constraints at the Panama and Suez Canals have contributed to the current market conditions. Despite potential increased demand from longer voyages via the Cape of Good Hope, spot demand remains weak, creating challenges in the LNG shipping market during the holiday season.

SOURCE:GOOGLE