Ocean shipping demand is traditionally measured in “ton-miles”: volumes multiplied by distance. So, here’s a paradox: Ton-miles for liquefied natural gas shipping have fallen in 2022, because most cargoes from the U.S. are being pulled to war-stricken Europe instead of going longer-haul to Asia. And yet, LNG shipping spot rates have skyrocketed to Guinness Book levels of up to $500,000 per day.
How is this possible?
This paradox was addressed at the Marine Money New York Ship Finance Forum on...
https://www.freightwaves.com/news/what-do-crazy-500000day-rates-say-about-shipping-demand