Europe Rushing to Secure Gas Sparks Record High LNG Ship Rates
- Lack of ships is latest challenge for buyers this winter
- Europe is hoarding more gas at sea as storage sites fill up
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Liquefied natural gas vessel rates hit a record high, with Europe’s dash to lock-in winter energy supplies sparking a scramble for ships and raising fears some buyers may find themselves without means to transport the fuel.
The cost to charter an LNG ship in the Atlantic jumped to $397,500 per day on Tuesday, surpassing an all-time high set in the Pacific last year, according to Spark Commodities, which assesses prices from shipbrokers.