Stronger-than-expected demand for natural gas across the world as the shoulder season gets underway is lifting sentiment in the shipping market, where rates to charter vessels are creeping upward. 

“We are witnessing a rare scenario as the start of 2Q2021 has been rather exciting compared to previous years,” analysts at shipbroker Fearnleys AS said this week. 

Lingering cold weather in Europe that has prevented storage injections and restocking demand in Asia following a brutally cold winter is driving demand for liquefied natural gas (LNG) and the massive tankers that carry it across oceans. 

Vessel rates broke records in January amid a historic cold snap in Europe and Asia, before stabilizing in February and falling to record lows in March. But the cheap tonnage created...