LNG vessel rates continue to plunge, recently hitting some of their lowest points in months, as more ships have become available to move the super-chilled fuel, particularly in the Atlantic Basin.

Spark Commodities on Thursday assessed the roundtrip cost of moving an April cargo from the United States to Europe at $49,500/day, down $1,000 from Wednesday. The last time freight rates were assessed that low by Spark was Aug. 10, 2022. Rates in the Pacific Basin on Thursday also declined $1,500 to $72,250/day.

Shipbroker Fearnleys AS also showed Thursday that rates to charter modern liquefied natural gas vessels slipped to $66,000/day in the Atlantic and $90,000 in the Pacific, both down about $12,000 from Wednesday.

“Timing is everything, as they say, and there’s no escaping...