Friday kicked off the heating season across the Northern Hemisphere and liquefied natural gas (LNG) freight rates also started their annual ascent. 

This year could be different. Europe and Asia are locked in a fierce battle for cargoes as inventories remain low and prices have hit new records with benchmarks soaring above $30/MMBtu in both regions. 

After a lull in activity on the shipping market, things are heating up. Given the upside seen for LNG this winter, freight rates could double by the end of the month, according to some analysts. 

“As we see the fixing window move out into November, charterers are seeing freight for winter now being priced into these discussions,” shipbroker Fearnleys AS said in a note to clients. “There is also a lack of visibility on...