ExxonMobil is being linked to a spot fixture of a steam turbine-driven LNG carrier at an exceptionally strong rate for this type of tonnage as rates continue to firm in a super-strong winter market.
Brokers reported the energy major has snapped up a Vitol relet, the 155,000-cbm Trinity Arrow (built 2008), at a rate of around $200,000 per day.
It is unclear, as yet, what additional costs this includes.
The 145,700-cbm steamship Maran Gas Coronis (built 2007) is also rumoured fixed to Kogas at similar levels and the 137,540-cbm steamship Ish (built 1995) is reported chartered out on a spot basis.
Rate assessments rise
The Baltic Exchange route assessments for 160,000-cbm tri-fuel diesel-electric (TFDE) LNG carriers rose today across all routes, with BLNG1g — the Australia to Japan route — up nearly $29,000 at $357,676 per day.
The US Gulf to Japan rose to $254,047 per day, with the US to Europe route showing the smallest rise to $263,147 per day.
Spot rates for 174,000-cbm two-stroke vessels are being pegged by brokers at more than $300,000 per day in the Pacific and Middle East.
Term rates are also firmly established over the $100,000-per-day mark for two-stroke and TFDE vessels in both regions.
Brokers said rates for LNG carriers trading in the Pacific basin are particularly strong, with a high number of spot enquiries for ships in the east and open tonnage in very short supply.
In its weekly report on Friday, Affinity (Shipping)'s LNG team said: "Pick your favourite number, multiply it by your age, then add three zeros on the end. Congratulations, you have now calculated your freight offer for a Pacific cargo!"
Pick your favourite number, multiply it by your age, then add three zeros on the end. Congratu-
lations, you have now calculated your freight offer for a Pacific cargo!Affinity LNG
Affinity LNG said that in the Pacific at the current spot prices, the delivered cargo value is more than $130m but the freight cost is around $15m.
"Headline rates on spot charters are becoming of less and less relevance," the broker said, even with offers of more than $300,000 per day and additional positioning and repositioning payments.
One report detailed an $11m positioning fee paid by Indian Oil Corp on its fixture of a Gunvor relet, the 160,000-cbm Golar Snow (built 2015).
In comparison, business in the Atlantic is looking "a little flat", another broker said.
Spot and time-charter rates across all LNG tonnage types have been climbing to rates above those seen last winter and well ahead of the normal peak weeks.
The market remains dominated by relet tonnage after traders and portfolio players made a raid for shipping mid-year, taking vessels on one-year-plus deals to give them coverage over the winter and into 2022.
Brokers said there are already plenty of enquiries in the market for January loadings, with buyers such as Tokyo Gas, Marubeni and Pan Ocean seeking vessels, and only "pockets" of available tonnage.
Most independent owners of modern tonnage are sold out, with charterers sifting through relets, TFDE, steam and reactivated vessels to find ships.
There is little expectation that LNG carrier rates will soften in the remaining weeks of 2021. Most market players expect levels to remain strong into the new year in the current pricing environment.
