It costs traders more than $200,000 a day to ship liquefied natural gas in the Atlantic basin, per Bloomberg.
Daily charter rates to ship LNG for October and November are at $206,750 and $284,750, respectively.
A growing number of traders have been using ships as floating storage, crimping tanker supply.
After the Ukraine war broke out, Europe rushed to pad out its energy reserves as Russia – a key supplier of natural gas – began cutting flows in retaliation to Western sanctions.
With sky-high charter rates, the risk is that they could push up gas prices before winter.
Organizations:
Bloomberg, LNG, Service, Commodities, It's
Locations:
Wall, Silicon, Ukraine, Saudi, Red, Europe, Russia, India, China, Moscow