When a trip costs $450,000 per day!

What's going on with LNG tankers

While LNG prices have been soaring because of the energy crisis in Europe, an even worse situation has been brewing in the tanker market.

Last week the Wall Street Journal and Bloomberg both reported that freight rates for LNG tankers had reached $450,000 per day. To compare, in 2021, freight rates were between $30,000 to $300,000 reaching the high end only during the extreme winter demand.