Platts launches Asia Pacific, Atlantic LNG two-stroke carrier day rates

Platts, part of S&P Global Commodity Insights, has launched daily Asia Pacific and Atlantic LNG day rates for two-stroke vessels, effective Nov. 7, 2022, to bring further transparency to this developing market.

Platts first proposed this in a subscriber note published Sept. 16, 2022, with an initial launch date of Nov. 1, 2022: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/091622-platts-proposes-to-launch-asia-pacific-atlantic-lng-two-stroke-carrier-day-rates

The LNG carrier market for single-voyage spot charters has been evolving in recent years, as the available spot LNG fleet progresses to newer tonnage and technology. Platts understands that two-stroke 170,000-180,000 cu m capacity LNG carriers known in the market as MEGI or X-DF carriers, depending on the manufacturer of the engine, are becoming increasingly attractive to charterers due to their lower boil-off gas rates. Furthermore, Platts understands that two-stroke LNG carriers comprise around 92% of the current LNG fleet order book, meaning they are likely to become the most common carrier type over the next decade.

Platts understands that two-stroke LNG carriers currently command a premium compared with existing tri-fuel diesel electric (TFDE) ships, depending on market dynamics, making them increasingly attractive to shipowners and operators.

The new assessments are published alongside existing Platts Asia Pacific and Atlantic LNG day rate assessments for TFDE vessels. Platts publishes the new day rate assessments in US dollars per day, as well as the related ballast rate assessments as a percentage.

The new assessments reflect two-stroke LNG carriers of 174,000 cu m capacity for cargoes loading 25-45 days forward.

The Asia Pacific assessments reflect the tradable value of this market at 4:30 pm Singapore time and follow the Singapore publishing schedule, while the Atlantic assessments reflect the tradable value at 4:30 pm London time and follow the London publishing schedule.

The new assessments are:

These assessments appear in LNG Daily, on Platts LNG Alert pages LNG0600, LNG1600, LNG2600, LNG0601, LNG1601 and LNG2601; and in the Platts price database under the codes above.

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