LNG

The LNG market traded largely sideways this week, following a relatively quiet period of activity. With tonnage lists remaining stable and limited fresh enquiry, market sentiment remained flat across most routes.

On the BLNG1 Australia–Japan route, rates for 174k cbm vessels slipped $1,500 to $33,400 per day, while 160k cbm units held steady at $22,200, reflecting muted Pacific activity and weak short-term demand.

The BLNG2 US Gulf–Continent route showed little change, with rates for 174k cbm vessels rising $500 to $34,900, and 160k cbm units climbing $800 to $21,300 per day.

The BLNG3 US Gulf–Japan route also showed little change. Rates for 174k cbm vessels edged down $100 to $42,100, while 160k cbm earnings improved $600 to $26,100, amid patchy demand and limited arbitrage opportunities eastward.                                                                     

Time charter levels continued their downward trajectory. The six-month rate dropped $3,600 to $47,250 per day. One-year and three-year levels each fell $1,250, settling at $46,250 and $57,000 respectively, in line with broader market softening and limited forward visibility.

 

LPG

The LPG market was active this week, though rates eased slightly as charterers appeared to reach a ceiling. While vessel supply remained broadly balanced, appetite for pushing rates higher diminished.

On the BLPG1 Ras Tanura–Chiba route, levels held steady at $85.00 per metric tonne. With TCE earnings dipping by $820 to $71,129 per day, suggesting that recent rate highs may have reached resistance in the Middle East market.

The BLPG2 Houston–Flushing route corrected moderately, falling $1.50 to $76.50, with TCE earnings down $2,463 to $83,181 per day. On the BLPG3 Houston–Chiba route, rates softened $3.08 to $137.67 per metric tonne. TCE returns slipped $3,296 to $64,124 per day. The decline was driven mainly by a narrowing arbitrage, reducing incentive for long-haul movements into the East.