Rates to secure vessels for liquefied natural gas (LNG) deliveries are at multi-year highs, climbing months in advance of the typical period when charterers move more aggressively to lock in ships ahead of winter demand.

The trend is particularly noticeable in the Atlantic Basin, where stronger-than-normal demand in Europe is helping support rates. 

“Strong demand ahead of what is expected to be a volatile winter is driving charterers to secure tonnage in a market with limited vessels,” said Spark Commodities CEO Tim Mendelssohn. 

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Spark on Friday assessed spot freight rates for June 25-July 25 deliveries in the Atlantic at $103,000/day, up $500 from the...