Shipping’s surge and splurge
Spot rates should stay below 2018 peaks as more newbuilds come into service
The world is perennially awash in tankers, a welcome state of affairs for energy commodity shippers in need of cheap, readily available transport, and an unwelcome one for ship owners, who often struggle to break even. But LNG shipping is the exception to the rule-cargo demand has recently exceeded LNG tanker supply and shippers could face ongoing transport constraints and high costs in 2019. During an unprecedented shipping crunch in October-November 2018, freight rates for spot vessels hit $200,000/d-an all-time record that topped the levels seen after 2011's Fukushima disaster. "There came a point where there were zero ships available. Everything was spoken for," IHS Markit LNG analyst An
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
