LNG

All three BLNGg routes rose this week, although not by much. In the East, rates rose by nearly $3,000 per day to give a round-trip number of $78,429. However, rates have been hampered in their gains by a quiet week overall with many travelling/attending IE week. Looking to the Pacific Basin, rates did rise. But with less than $1,000 gained on both routes, it wasn’t a rallying call to give rise to market sentiment improving. Ships have been cleared out with a spate of fixing recently. With Freeport now open - and volumes increasing - those with ships who previously would have been interested in spot or short-term fixing are holding back. This is in case they have volume of their own to lift. As a result, the BLNG2g US-UK run closed at $57,228. Meanwhile, the BLNG3g US-East runs hold a little premium publishing at $68,933 at the end of the week.

Period interest has kept focus on 12 months to three years. Current estimations for a 174k 2-Stroke vessel with 0.085% boil off and delivery one month ahead: $191,500 for 12 months, and $153,00 for three years.

 

LPG

A quiet week overall while market participants attend various IE week events. The Middle East market was flat with little change throughout the week moving down marginally to close at $102.571, a TCE equivalent on a round-trip voyage of $87,439 per day.  One vessel was reportedly fixed for end March laycan at $103 but it wasn’t confirmed.

The US was in a similar state where rates languished around the mid to high $150s for a Houston-Chiba run. There is a tighter tonnage list with few ships open for first decade April dates. But with ships discharging on the UKC which can make the fixing window, there still there isn’t enough pressure to push rates higher. Rates were flat with a Houston-Flushing run falling just under $1.5 over the week to close at $89.8 and Houston-Chiba finished at $156.429 a fall of just under $3.