In an increasingly dynamic LNG market, participants need a trusted benchmark to capture and manage freight price risk.
The Argus Round Voyage (ARV) LNG freight rates are the robust and representative assessments that the industry needs for demurrage contracts, long-term charter agreements, and to settle financial instruments used for hedging, trading and inter-regional arbitrage.
To boost transparency in this crucial market, we are making five of our key freight rates available to all in a weekly summary.
Argus Round Voyage (ARV) rates ($/day)
Our LNG freight rates
Argus has assessed laden day rates for LNG vessels since 2012, covering steam turbine, tri-fuel/dual-fuel diesel electric and two-stroke vessels. To complement these, we have now launched three new round voyage rates: ARV1 (Australia-northeast Asia); ARV2 (USGC-northwest Europe) and ARV3 (USGC-northeast Asia).
Argus LNG freight rates are independent and robust, informed by a diverse and global set of information contributed by charterers, vessel owners, trading firms and brokers. Learn more about our contributors.
Why round-voyage rates?
Argus Round Voyage rates capture all the variable costs that a charterer pays an owner for a tri-fuel or dual-fuel vessel charter. These include considerations such as whether the ballast leg is charged at a different day rate, whether the charterer is charged to return the vessel back to the loading port or elsewhere, and whether any other costs are added or subtracted.
The ARV rates include all costs paid from charterer to owner ensuring that they capture any change in the transaction costs for a standard voyage on the benchmark routes, and are normalised to a $/day unit based on a fixed number of days.
Understand more about LNG freight rates and why Argus Round Voyage rates are the benchmark that the market needs.
Get our answers to the most frequently asked questions, including how we assess freight rates and why a day rate is the right choice for a benchmark.
|Argus PA code||Bloomberg Ticker||Refinitiv RIC||Marketview Symbol|
|ARV1: Australia-northeast Asia||PA0027286||FR31F237||LNGFRTROUND=ARG||#PA00272860PRPT|
|ARV2: USGC-northwest Europe||PA0027287||FR31F236||LNGFRTDAY=ARG||#PA00272870PRPT|
|ARV3: USGC-northeast Asia||PA0027860||FR31F235||LNGFRDVARV3=ARG||#PA00278600PRPT|
|LNG freight laden day rate TFDE - east of Suez||PA0017305||FR31F234||LNGFR05=ARG||#PA00173050PRPT|
|LNG freight laden day rate TFDE - west of Suez||PA0017304||NG23N150||LNGFR04=ARG||#PA00173040PRPT|
Argus assesses LNG freight rates based on a survey of active market participants.
The Argus Round Voyage rates are for a standard, fungible vessel, offered cold for single-cargo fixtures beginning between five days after the date of assessment and the end of the following calendar month, with the following specifications:
- Vessel size: 155,000-165,000m³
- Dual-fuel diesel electric (DFDE) or tri-fuel diesel electric (TFDE)
- Typical boil-off: 0.1-0.125pc
- Ice-class carriers are excluded from the assessment
View the full methodology here.
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