LNG Bunker Price Surge Drives Clean Tanker Freight Above Conventional Rates
A recent surge in LNG bunker prices has lifted freight rates for LNG-powered clean tankers above those for conventional vessels, according to an analysis by Platts.
The price hike, which occurred between September 7 and 11, resulted in a significant increase in the cost of running an LNG-fuelled vessel, directly impacting voyage economics.
The widening gap between LNG-equivalent freight rates and conventional rates was most pronounced on Persian Gulf-Japan routes, such as Jubail-Chiba, Ruwais-Yokkaichi, and Ras Tanura-Yokohama, where LNG-equivalent freight climbed by approximately 33%, compared to a 25% gain in conventional freight.
The daily Platts LNG Base Rates from S&P Global Energy on Jubail-Chiba increased from $36.66 per metric ton on September 7 to $38.89 per metric ton on September 11, while the applicable Worldscale daily assessment over the same period rose from w520 to w650.