LNG Tanker Rates Double To $200,000 In Less Than A Day Due To US-Iran War

Shipowners and brokers have raised their demands to more than $200,000 a day for liquefied natural gas tankers in the Atlantic Basin, double what they were commanding less than a day before.

The spike in rates came after Qatar shut its LNG production as the US-Iran war began.

Per reports, no transactions have been booked at the new offer rates, said the officials related to the matter.

The offer rates were three times higher than the last assessed price for an LNG tanker by shipping firm Spark Commodities, which was $61,500 previous Monday.

Transacted shipping rates will not rise unless production halts for days in Qatar and Abu Dhabi, said Richard Pratt, a consultant with Precision LNG Consulting LLC.

The additional distance to sail ships from the U.S to Asia could also play a role, he added.

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