Gas-Ship Rates Seen Rising 67% as Japan Replaces Nuclear: Freight Markets
By Moming Zhou and Alistair Holloway
The cost of shipping liquefied natural gas may advance 67 percent to a five-year high as Japan replaces its crippled nuclear industry with power plants burning fossil fuels. LNG-tanker rates will average $100,000 a day in the fourth quarter from about $60,000 this quarter, according to Oyvind Hagen, an analyst at ABG Sundal Collier in Oslo, whose team’s share recommendations returned 16 percent in six months.