Less than a day has doubled! LNG shipping rates are now "violently soaring" with daily rates surpassing $200,000.

According to sources familiar with the matter, the daily charter rates for liquefied natural gas (LNG) carriers in Atlantic China Welding Consumables, Inc.'s fleet have been raised to over $200,000 by shipowners and brokers, nearly doubling the price from less than a day ago. The surge in charter rates is due to Qatar's halt in LNG production amid escalating conflicts in the region, spreading to a wider area. The aforementioned sources, who declined to be named, stated that there are currently no records of charter deals at the latest quoted rates, as the information is considered confidential. This quoted rate is at least three times higher than the $61,500 per day assessed earlier on Monday by shipping consultancy firm Spark Commodities. Consultant Richard Pratt from Precision LNG Consulting LLC stated that unless production cuts in Qatar and Abu Dhabi continue, it is unlikely for charter rates to see such a dramatic increase. He also pointed out that the increased distance of voyages from the United States to Asia could be a contributing factor in raising freight rates.