Atlantic LNG Freight Rates Surge to Highest Since Early 2024

The cost of transporting liquefied natural gas across the Atlantic Ocean surged to the highest in almost two years, as expanding exports from North America boosted demand for tankers.

The spot rate to hire an LNG vessel for delivery from the US to Europe jumped 19% to $98,250 per day on Monday, the highest since January 2024, according to Spark Commodities, which tracks shipping prices. Costs to hire a tanker in the Pacific Ocean also jumped 15% to the highest in over a year, the data show.