October freight rates for spot liquefied natural gas (LNG) vessels recorded hiking to $112,000 this month from $42,000 a year ago.

On a monthly basis, a rates spiked 1.8 % from $110,000 in September this year.

According to Bloomberg data sourced from India-based shipping consultant Drewry Maritime Services Ltd., October's long-term rates registered a hike of 29 per cent to $90,000 a day.

So far this year, rates for spot charters averaged $92,500 a day as against $40,700 last year, Drewry said. Long-term rates came around $79,200 this year.

Meanwhile, global energy and metals forecaster Wood Mackenzie ship owners should take it easy riding on the LNG export bandwagon.

While near-term prospects remain good as far as global LG delivery is concerned, tankers ordered in today's rising market will be delivered into a declining freight market and with limited employment opportunities, Gas Today quoted the Mackenzie report titled "Shifting trade Moves LNG Shipping Out of the Doldrums."

"Some 45 new LNG ships have been ordered so far in 2011, compared with just five in 2010, and most of these have been ordered on a speculative basis," Wood Mackenzie Senior LNG Shipping Analyst Andrew Buckland said.

Ships ordered now, target for a 2014-15 delivery schedule, have no guarantee that new supply projects will choose to charter these vessels rather than order their own purpose-built ships.

According to Drewry, the LNG tanker fleet has grown to 355 vessels in October from 349 a year ago, with an additional 65 vessels on order standby.

"Freight rates are expected to continue rising and could go considerably higher in the near term. However, an expected decline in long-haul LNG trades and the possible preference for purpose-built vessels by some new LNG projects, implies that if the recent wave of speculative LNG ship orders were to continue they would risk uncertain employment upon delivery," Buckland said.

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