A was somewhat positive about LNG shipping a few weeks ago. Rate had improved in Oct - Nov 2025 to high 5 digits, even 6 digits daily. Then, I read this summary of the year 2025. At least to Europe, rates have eased slightly, to $90k level.
Not mentioned in the article is that most LNG vessel ordering is not speculative. Most vessels are joining the LNG fleet with a contract. The last box is useful wrt potential drivers for Q1 2026. Not a lot of entities in this niche sector - down to DLNG, CCEC and FLNG (with the fleets of the first two primarily fixed for a few years). So I guess the quarterly uncertainty applies mainly to FLNG. One vessel on spot currently, a second rolls off charter in Q4 2025, and goes to dry-dock. After that, likely spot trading. And in Q2 2026, there may be a third (that one has an option)