Subscribe to RSS feedNewbuild glut hits gas rates
Charter rates for liquefied natural gas carriers in the short-term market are coming under further pressure after falling sharply last year as a record number of newbuildings flooded the market, according to Poten & Partners, the leading New York-based shipbroker.
Even though the total of single-cargo and short-term fixtures, at 63, was similar to 2007, rates declined 17% to about US$46,600 a day for steam turbine vessels of 138,000 cu metres to 150,000 cu metres.
With a record number...
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