# Too Many Ships, Too Little Demand: LNG Freight Rates Plunge to Multi-Year Lows

> LNG tanker freight rates hit multi-year lows, with Atlantic rates at $20,750 per day and Pacific rates at $36,750 per day. New tankers are entering the fleet faster than liquefaction capacity is growing, and rates may stay depressed until late 2025. Rates are down 87% in the Atlantic and 78% in the Pacific from a year earlier.

- Date: 2024-10-28 · published 2024-10-28T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/28058-too-many-ships-too-little-demand-lng-freight-rates-plunge-to-multi-year-lows
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Oversupply of shipping capacity cuts the cost of moving LNG but signals weak export demand growth. Cheap shipping may encourage US cargoes to Europe and does not directly move grain or feed freight rates.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-06-14 | [Natural Gas Prices Blunted By LNG Demand Loss But Fundamentals Remain Tight](https://feedsoft.ai/events/6805-natural-gas-prices-blunted-by-lng-demand-loss-but-fundamentals-remain-tight.md) | -23.8% | -24.1% |
| NATGAS | 2022-07-21 | [Rising demand and lower water levels drive up barge charter rates - The Loadstar](https://feedsoft.ai/events/40675-rising-demand-and-lower-water-levels-drive-up-barge-charter-rates-the-loadstar.md) | +11.3% | +20.4% |
| NATGAS | 2021-01-12 | [LNG Shipping Rates from U.S. Surge Record on Asia Buying Boom](https://feedsoft.ai/events/49024-lng-shipping-rates-from-u-s-surge-record-on-asia-buying-boom.md) | -4.8% | +12.9% |
| NATGAS | 2025-05-07 | [Freeport LNG export plant in Texas on track to exit outage on Wed, LSEG data shows](https://feedsoft.ai/events/24869-freeport-lng-export-plant-in-texas-on-track-to-exit-outage-on-wed-lseg-data.md) | +5.7% | -1.2% |
| NATGAS | 2018-11-06 | [LNG Shipping Rates Hit All-Time High Ahead of Winter Traffic](https://feedsoft.ai/events/6494-lng-shipping-rates-hit-all-time-high-ahead-of-winter-traffic.md) | +9.1% | +24.8% |

## Sources

- gcaptain.com: https://gcaptain.com/too-many-ships-too-little-demand-lng-freight-rates-plunge-to-multi-year-lows/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.