The shipping market recovery is underway, says Golar LNG. Shipping demand has exceeded supply growth for the first time since 2013. "The shipping market is showing strong signs of improving. As of today, the effective time charter rates being achieved in 4Q are more than twice that recorded in 3Q. An improving trend is expected to continue into 2018-2019 when shipping supply should lag demand created by increased production. At full utilization, every $10,000 increase in shipping rates equates to approximately $40 million additional annual operating cash flows across the entire fleet," says a statement from the company. Demand growth has been supported by a combination of additional liquefaction volumes and rising ton miles.