LNG Ship Rates Seen Declining by Wells Fargo as Output Slows
Rates to ship liquefied natural gas will decline this year as new vessels join the fleet more quickly than global output of the fuel expands, according to Wells Fargo Securities LLC.
“We expect LNG carrier spot rates to ease slightly in 2013 (but generally stay at healthy levels), as the rapid rate upside following the Fukushima nuclear disaster continues to plateau, and as the global carrier fleet starts to grow in advance of a major liquefaction inflection point in 2015/2016,” Michael Webber, a New York-based analyst at the bank, said in an e- mailed report today.
To contact the reporter on this story: Isaac Arnsdorf in London at email@example.com
To contact the editor responsible for this story: Alaric Nightingale at firstname.lastname@example.org