Spot freight rates for LNG tankers continued to rise as a surge in North American exports to record levels led to a large number of tankers being occupied. The cost of chartering a ship to transport liquefied natural gas from the United States to Europe rose about 12% on Friday to reach $130,750 a day, the highest level since December 2023, according to data released by Spark Commodities. Freight rates have continued to rise since early October, with new project production in North America rising, requiring more tankers to deliver ultra-cold fuel to customers, including those in Asia. Rising prices A shift in the maritime shipping market There appears to be a wider upward trend in prices, with the cost of chartering a tanker crossing the $150,000-a-day level for the Atlantic Ocean voyage starting in the second half of December, according to traders familiar with the matter. Also read: US gas shipments set transatlantic tanker prices on fire. North America’s average 30-day LNG exports rose to a record high on Thursday and were up about 50% year-on-year, according to ship tracking data compiled by Bloomberg. The sharp increase in freight rates represents a radical shift in the market, which has suffered for most of the year due to the glut of tankers. However, the rise prompted a number of LNG buyers to request a delay in loading in the Atlantic Basin, according to Spark Commodities. In contrast, the cost of chartering a tanker in the Pacific has reached its highest level in more than a year.