LNG

LNG has taken a slight breather before winter with rates flat/softening across the routes. Uncertainty with Freeport hangs in the balance, which has allowed a small number of relets the chance to be pushed out for cargoes. This has lessened the tightness of tonnage of late. Although some ships have already begun to be fixed away and charterers are relying still on period terms to secure tonnage making spot still difficult. BLNG1g Australia-Japan saw a marginal increase to $466,279, while both routes from the Atlantic Basin saw falls of around $100,000 per day to settle at $492,100 and $472,313 for BLNG2G, and BLNG3g respectively.
 

LPG

The VLGC market has seen all-time highs this week, (a sentiment expressed almost weekly it seems) publishing at the highest levels since the routes came into publication. On BLPG1 in the middle east Aramco acceptances are due to come out, which will mean more December cargoes putting pressure on an already tight tonnage list. Sentiment has been bullish as fixtures continue to impress with rates rising to $146.429 an increase of over $12 for the week. A 79,000cbm vessel was fixed for an AG/East cargo of 44,000 LP on mid-December dates at USD 145. Out in the West, delays in Panama continue to wrestle with the available tonnage. Like in the east, we have seen record high publishing. BLPG3 is over $200 for the first time since the Baltic published the route and it’s the same for BLPG2 at $110.2. An 84,000cbm vessel was fixed for a Houston/East cargo of 44,000 LPG basis 24-25 Dec at USD 199.