It costs more than $200,000 a day for traders to ship liquefied natural gas as tanker supply dwindles
It costs traders more than $200,000 a day to ship liquefied natural gas in the Atlantic basin as the use of ships as floating storage facilities reduces tanker supplies.
Daily charter rates for October and November are at $206,750 and $284,750, respectively, according to Spark Commodities data cited byThe surge in freight rates comes amid a drop in the availability of tankers, many of which are being used by traders as floating storage to hoard the commodity following Russia's invasion of Ukraine. were seen floating in the Red Sea, boosting the amount of crude oil being stored at sea globally to a two-year high.
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