Ship Charter Rates Soaring in LNG Sector

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The liquified natural gas (LNG) sector is experiencing dramatic spikes in shipping rates due to the disruption in the energy supply chain caused by the Russia-Ukraine conflict and the recent sabotage of the Nord Stream pipeline system.  Amid rising concerns of possible cargo disruptions, the shortage in carrier vessels has sharply affected spot charter rates.  Europe is “to replace Russian pipeline flows with liquefied natural gas from suppliers including in the US and Nigeria,” according to Bloomberg.