The LNG carrier freight market is at the center of global interest, as freight rates continue their rally, reaching the highest levels of the year.
The market entered an upward trajectory in November, fueled by a combination of increased demand for LNG, geopolitical tensions and tight available tonnage.
According to Intermodal data, the spot market for 174,000 cubic meter ships rose to 77,500 dollars/day, compared to an average of 29,658 dollars/day for 2025.
In the Atlantic, the numbers have even exceeded expectations: Fearnley LNG is pricing modern two-stroke LNG carriers at 160,000/day, while for TFDE (tri-fuel diesel electric) ships, freight rates have reached 100,000/day.
Based on the data recorded, buyers such as TotalEnergies have reached the point of re-chartering ships at rates of 150,000/day for spot voyages starting in late December, confirming the “explosion” of the market.
At the same time, the time charter market is showing stability, with annual contracts close to 30,000/day, slightly lower than the average for the year (34,957/day), but with no signs of a downturn.
The causes of the rise
There are three main reasons for the rise:
The first is increased demand in Europe, where winter conditions, full European FSRUs and the need to replenish stocks have boosted imports.
Then, the data reflects the strong LNG exports from the US. In particular, producers in the United States and West Africa have pushed significant quantities into the spot market, intensifying competition for available ships.
A third factor is geopolitical developments. On the one hand, Ukraine, which after the destruction of its natural gas network by Russian strikes immediately turned to LNG imports via Greece and the Baltics, while Egypt, which saw its domestic production pressured, tripled its imports since the summer.
The result is a condition of unprecedented pressure on capacity, with freight rates rising faster than charterers can respond.
Source: Naftemporiki