It’s getting cheaper — at least for now — to rent a liquefied natural gas tanker, despite turmoil in the Red Sea that is forcing some vessels to take longer and more costly routes.

The slump in LNG shipping rates started in late November but accelerated this week, with prices in the Pacific basin tumbling below $100,000 a day for the first time since August, data from Spark Commodities show. Atlantic basin rates are also tanking, shedding 16% since Friday.

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