LNG

It has been a softer week in the LNG market, with rates moving lower across both spot and period segments as limited demand met steady vessel availability. The absence of strong fresh enquiry has left sentiment under pressure, with all key routes relinquishing ground.

On the BLNG1 Australia–Japan route, 174k cbm vessels dropped $1,000 to $33,300/day, while 160k cbm tonnage slipped $1,100 to $19,600/day. Pacific activity remained muted, with little to absorb the available length in the basin.

The BLNG2 US Gulf–Continent route fell more sharply, with 174k cbm earnings down $2,100 to $34,600/day and 160k vessels off $1,600 to $20,200/day, reflecting subdued Atlantic demand and pressure from increasing prompt availability.

On the BLNG3 US Gulf–Japan route, 174k cbm ships eased $1,300 to $42,800/day, while 160k cbm units lost $1,800 to settle at $24,100/day, with longer-haul demand failing to provide meaningful support.

Period markets were also weaker. The six-month TC rate fell $1,800 to $42,350/day, the one-year rate slipped $1,825 to $43,925, and the three-year term was down $750 to $56,050, reflecting softer sentiment across the board.

 

LPG

It has been a quiet week in the LPG market, with sentiment softening as the arb continued to move and charterers showed limited appetite to chase rates higher. Levels drifted lower across all three routes, with tonnage availability keeping pressure on earnings.

On the BLPG1 Ras Tanura–Chiba route, rates slipped $3.33 to $83.83 per metric tonne. TCE earnings fell $4,282 to $70,846/day as Middle East activity remained steady but supply of available ships weighed on sentiment.

The BLPG2 Houston–Flushing route eased $1.00 to $81.00 per metric tonne, with TCE returns down $1,449 to $91,522/day. The BLPG3 Houston–Chiba route also softened, down $2.58 to $148.42 per metric tonne. TCE earnings slipped $2,559 to $73,771/day, as the narrowing arb reduced long-haul demand and undercut recent momentum.