LNG Shipping Costs Soar as U.S. Sanctions on COSCO Bite

Caixin Global | Oct 12, 2019 at 2:31 AM
  • The cost of chartering a liquefied natural gas vessel on the short-term market has jumped the most since at least 2013.
  • Benchmark LNG spot shipping rates east of the Suez Canal jumped to $130,000 a day on Oct. 9.
  • Five specialized ice-class vessels for Russia’s Yamal LNG project in the Arctic, chartered from a joint venture between COSCO unit China LNG Shipping (Holdings) Ltd. and Teekay Corp., are still on routes serving the project normally.