There have been several fixtures reported in the market. It is our understanding a 160,000 TDFE vessel with 0.15% boil off was fixed away from North Australia - East between $65-70,000 daily RV, which is well in line with published routes this week. BLNG1g has remained for the most part flat during the week with rates rising $6033, to close at $69,597 RV. However, expectations are that this rise ought to continue as owners are reticent to drop any rates when activity is beginning to pick up.

In the West, we have finally seen that Freeport has reopened with the first cargo being lifted since June 2022. This will continue to eat away at the ships available for spot which a number have been fixed away in the last week. This tightening of the list (a first for several weeks) has pushed rates up, BLNG2g rose by $1988 to close at $55,574. However, BLNG3g hasn’t seen quite a change we published at $66,227 - a rise of $639 during the week.

As spot enquiry and fixing picked up steam there has been a cool down in period interest. Ships remain tight for early delivery. And as rates rise, sublets are potentially looking at what can be done within program or very short term rather than refocussing on period/term deals. Current estimations for a 174,000 2-Stroke vessel with 0.085% boil off and delivery one month ahead: $176,500 for 12 months and $165,00 for three years.



It continues to be a relatively flat week with markets moving marginally positive in the East, while the West dropped a few dollars. Despite continued fixing for BLPG1 routes, and fixing moving later into March dates, there is potential for a lull and the spread between East and West could narrow. This makes Western voyages more attractive for owners. In the meantime rates rose from $90.429 to $94.143, which gives a TCE equivalent of $76,400 for a daily round trip return voyage.

For the BLPG2 and BLPG3 routes, slight drops on both have eaten away (though minimally) to TCE earnings. A Houston-Flushing BLPG2 voyage was published at $76.8 - a drop of $1.6 over the week and a TCE equivalent of $80,765. BLPG3 didn’t fare much better, shedding over $2 to close at $136.286. However, this did little to TCE earnings which dipped only $715 to finish at $64,660.