Biggest Hedge Fund in Ships Sees Frozen Gas Beating Oil: Freight
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Tankers hauling liquefied natural gas at sea will earn record rates in 2012 as demand reaches an all-time high, beating returns from vessels carrying oil and coal, according to the world’s biggest shipping hedge fund.
The tankers, each holding enough gas to meet about 25 percent of peak daily winter demand in the U.K., will earn as much as $200,000 a day this year, from $140,000 at the end of 2011, said Andreas Vergottis, the Hong Kong-based research director at Tufton Oceanic Ltd. That means the most profit ever for Golar LNG Ltd. and Teekay LNG Partners LP, which operate 33 of the vessels, analyst estimates compiled by Bloomberg show.