LNG

It has been a slightly more active week in the LNG market, with rates strengthening across most major routes despite some softness in the period market. Increased activity in the Atlantic and firmer sentiment in long-haul trades helped lift spot earnings.

On the BLNG1 Australia–Japan route, rates for 174k cbm vessels rose $1,200 to $34,400 per day, while 160k cbm earnings fell $1,500 to $20,700 per day, reflecting diverging conditions between larger and smaller tonnage in the Pacific.

The BLNG2 US Gulf–Continent route firmed, with 174k cbm rates up $400 to $36,300 per day and 160k cbm vessels gaining $1,000 to $23,000 per day. The BLNG3 US Gulf–Japan route saw stronger gains, with 174k cbm ships climbing $800 to $44,000 per day and 160k cbm tonnage up $800 to $26,700 per day, supported by improved long-haul interest.

Time charter levels eased further. The six-month TC rate fell $650 to $45,600 per day, the one-year rate slipped $275 to $45,700, and the three-year term declined $1,000 to $55,950, pointing to a softer forward outlook despite spot market gains.

 

LPG

The LPG market remained firm this week, with sentiment buoyed by ongoing tightness in vessel availability from continued congestion in the Neo Panama Canal.

On the BLPG1 Ras Tanura–Chiba route, rates edged up $1.00 to $89.58 per metric tonne, with TCE earnings climbing $1,797 to $77,923 per day, supported by steady Middle East activity.

The BLPG2 Houston–Flushing route was steady, gaining $0.13 to $83.25 per metric tonne, while TCE returns inched up $768 to $95,226 per day.

The BLPG3 Houston–Chiba route firmed $3.00 to $153.00 per metric tonne, with TCE earnings up $3,096 to $78,059 per day. Ongoing US export activity and uncertainty around Panama Canal transit times continued to underpin the long-haul market.