(MENAFN- Yolo Wire) Shipments of liquefied natural gas (LNG) have hit multi-month highs on tighter vessel availability and rising winter demand.

Freight rates for shipments across the Atlantic Ocean stood at $61,500 U.S. per day on Nov. 4,

their highest level since August 2024 and a more than 50% increase from the start of this year.

Pacific shipping rates for LNG currently stand at $42,250 U.S. per day, their highest level since the end of June this year.

The price increases come amid a crush of demand for vessels that can transport LNG around the world. Seasonal demand is also spiking as winter approaches in Europe and Japan.

The rise in demand has led to a sharp increase in LNG shipments from ports ranging from Vancouver, British Columbia to Corpus Christi, Texas.

With winter in Europe forecast to be colder than normal this year and into 2026, demand for LNG is expected to continue rising in coming months.

The sharp uptick in demand has led to 40% increase in prices for LNG since the end of August this year.

American natural gas futures recently hit an eight-month high of $4.34/MMBtu or one million British thermal units, a common unit for measuring heat content of energy such as natural gas.

Leading LNG companies include ExxonMobil (NYSE: $XOM), Shell (NYSE: $SHEL), and Chevron (NYSE: $CVX).

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