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!
Israel Conflict Affecting Shipping
International freight exporters and exporters may have to take caution soon with the Israel conflict affecting shipping in various ways.
Shipping Fuel Prices Stabilizing from Ukraine War Peak
Prices for several different fuels are close to half last year’s peak and may decrease further in the second quarter. This means that shippers can benefit from saving if they decide on shipping now or in the near future.
The Ukraine Crisis’ Effects on LNG Exports
Due to the current conflict in Ukraine, there has been a recent global shift in the LNG exported from Russia, which is one of the largest natural gas producers and LGN shippers globally.