There is no new tail to spin with LNG this week. The index has remained flat for all three routes, shifting marginally due to an increase in fuel prices but with little to no interest in spot enquiry sentiment has remained flat. Focus for spot is muted while market players weigh up options for the upcoming winter market. Rates at these levels have seen various ships taken off market and back into charterers hands to help prepare for what everyone hopes will be another rollercoaster ride in the winter.

The index itself moved positively and Aus-Japan BLNG1g gained a little over the week to close at $68,886, a rise of $1,351. The Atlantic market saw more activity intra basin, which some brokers suggested could push US-Japan rates higher. Indeed BLNG3g saw the greatest gain on the week of $5,730 to close at $88,087, while traditionally the busiest route BLNG2g into the UK was extremely flat moving $583 to finish at $70,293. Despite interest in period still occupying much of the discussion around the table rates did fall for six-month, one-year, and three-year terms. There was a report a ship was fixed for period with one of the main factors being that it was sublet back out into the market.



There has been quite a split of opinion on the LPG this week, especially in the Middle East. The BLPG1 run for Ras Tanura-Chiba fell by $4.413 overall but brokers said that the market was heading in both directions at once. Tonnage was tight on the front end, especially with those ships traditionally seen as being ‘cheaper’, but there was little enquiry as well, so rates held. While looking further out to August, there were more ships coming into play but levels of enquiry were lower at time of writing. This has kept the market relatively muted and the week closed at $107.286, which gives a daily TCE Earning of $95,599.

The US market was on calmer waters, still losing a few dollars overall but holding steady considering we are in the summer months. There were few questions asked going into Flushing while the US-Chiba had steadier interest rates did not hold up. On BLPG2 Houston-Flushing, a fall of $1.6 meant we closed at $100.8, while the eastern run BLPG3 Houston-Chiba fell by $2.5 and closed at $172.357 giving a daily TCE earning of $96,741.