LNG Weekly Report - Week 39

LNG prices have shown signs of easing this week; however, freight rates are on the rise, driven by heightened winter demand and fresh inquiries in the Atlantic, evidenced by at least nine reported spot fixtures and four uncovered cargoes. Owners are capitalizing on bullish market sentiment to push for rate increases, resulting in a firming trend across both basins. Notably, current cross-basin freight rates are approximately double those of intra-basin routes, highlighting a strong demand for flexibility and discharge options in Asia. Amid discussions concerning the Strait of Hormuz logistics, there is a significant focus on steam vessels with attractive average weighted rates per play, and some movements are being made to secure tonnage through multi-year charters extending into 2027.