LNG Shipping Rates Hit Multi-Year Lows Amid Oversupply and Weak Demand
LNG shipping rates have plummeted to multi-year lows due to oversupply of new tankers and delays in production projects. Rates are expected to remain low until new production begins in 2025. The lack of arbitrage opportunities has led to a surplus of LNG vessels. New vessel additions further exacerbate the oversupply situation.
