The LNG industry faces a prolonged period of higher ship charter rates as new export capacity in the United States and growing demand in Asia will result in longer journeys and greater demand for vessels over the coming years.
The availability of ships for spot charters has dropped as arbitrage opportunities between Europe and Asia have increased. This has seen more vessels making the journey to Asia than anticipated, particularly from the two export projects now online on the US Gulf Coast.
Buyers of US LNG had...
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