LNG: Atlantic LNG Freight Rates Surge on US Arb Swtich to Asia: Spark
LNG freight spot rates in the Atlantic basin have seen the largest week on week rise since September 2023, according to Spark Commodities.
- The rise follows a significant rally in rates last month, returning to pre-2022 levels.
- Spark30S (Atlantic) freight rates rose $14k this week to $35.75k/day driven by the US front month arb (via COGH) switching in favour of Asia over Europe earlier this week.
- However, the arb (via COGH) has now closed and marginally favouring Europe again at -$0.10/MMBtu.
- The US arb to NE-Asia via Panama continues to point to Asia at $0.025/MMBtu.
Source: Spark Commodities
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