The LNG spot index has not shown much sign of life this last week. Rates are flat while there remains little to no firm spot enquiry. It is summer and expectations were that levels would stagnate. As we look to cargoes being quoted in late September laycans, eyes are once again drawn to the upcoming winter months and what they might bring. It was reported this week by one broker that while term rates have remained steady but high, there has been plenty of interest at inflated levels (vs. spot/multi-month pricing) expectations are that we will once again see the winter spike that we experienced last year. With charterers and traders planning ahead, any potential cargo/stem uncovered or opening up due to a lack of available programmed tonnage could face steep spot rates; something players who have taken tonnage on recently are hoping is the case.

For the actual index minimal changes moved the rates a few hundred dollars only. BLNG1g Aus-Japan fell by $134 to close at $68,752, gaining a little back having fallen more than $500 by midweek. On the Atlantic routes, BLNG2g lost nearly $750 to finish at $69,545 while looking east BLNG3g US-Japan rose marginally to close up at $88,209 having fallen below $88k mid-week.



A very quiet week overall where a lack of much enquiry has pushed rates down across all three routes, but it is in the Far East that the greatest fall occurred shaving nearly $9 off the week’s starting to close at $99 for Ras Tanura-Chiba. This gives a TCE daily earning of $83,950 which, though over $10k off from the start of the week, is still quite healthy earnings for the summer market.

Out in the US rates were steadier. A lack of much enquiry and little change on tonnage availability kept things hovering around the status quo. On our BLPG2 run Houston-Flushing rates fell marginally to close at $100.2 (a fall of 60 cents from the start of the week). This gives a daily TCE earning of $114,765. On BLPG3 Houston-Chiba sentiment pushed rates down but not enough to go below $170. We closed the week at $170.714 (a fall of $1.5) and a daily TCE earning of $94,147 round trip.