LNG freight rates for the Atlantic and Pacific basins have plunged to the lowest levels for October, with Friday’s rates dropping $20,750 and $36,000 daily—down 87% in the Atlantic and 78% in the Pacific since 2019!
Milton Disrupting Supply Chains
Hurricane Milton severely disrupted supply chains in Florida, affecting importers and exporters nationwide. With Florida being a key entry point, the ripple effects could last for weeks.
Growing Singapore Port Congestion
Various international shipping circumstances have recently caused global backlogs across ports, with the Singapore port being an epicenter.
Importing During Chinese New Year
During the holiday, ports, shipping companies, and factories limit operations or shut down, which can cause supply chain disruptions.