Atlantic LNG freight rates jump to highest since November 2023, Spark Commodities data shows

LONDON, March ​3 - ⁠Atlantic freight ​rates for liquefied natural ​gas (LNG) jumped ‌on Tuesday ⁠by $100,250 to $161,750 per day ⁠for ​the highest rate since November 2023 and ​a ‌record peak for this time of year, ​Spark Commodities data ‌showed.

"The LNG market’s inherent lack ‌of structural flexibility has collided with the ​sudden shut-off of nearly ‌20% of global LNG supply, resulting in ⁠extreme ⁠volatility across ‌global benchmarks," said Qasim ​Afghan, a ​Spark ‌Commodities analyst. (Reporting by Marwa Rashad Editing by David Goodman )