LNG

It has been a steady week in the LNG market, with rates decreasing minimally across some routes as limited demand met steady vessel availability. The continued absence of fresh enquiry has left sentiment balanced as we move into mid/end October liftings.

On the BLNG1 Australia–Japan route, 174k and 160k cbm vessels remained flat at $31,700 per day and $18,800 per day respectively. Pacific activity remained muted, with little to absorb the available length in the basin.

The BLNG2 US Gulf–Continent route fell slightly, with 174k cbm earnings down $200 to $28,800 per day and 160k vessels remaining flat at $16,300 per day.

On the BLNG3 US Gulf–Japan route, 174k cbm ships eased $800 to $35,400 per day, while 160k cbm units again remained flat at $19,700 per day.

Period markets were also weaker. The six-month TC rate fell $1,550 to $36,750 per day, the one-year rate slipped $1,500 to $40,000, and the three-year term was down $500 to $54,500, reflecting softer sentiment across the board.

 
LPG

It has been a firmer week in the LPG market, with rates rising sharply as a flurry of new cargoes entered the market and the tonnage list remained tight. The increased activity drove strong gains across all major routes.

On the BLPG1 Ras Tanura–Chiba route, rates rose $3.50 to $78.50 per metric tonne, with TCE earnings climbing $4,125 to $65,805 per day.

The BLPG2 Houston–Flushing route saw large improvements, with rates surging $8.75 to $85.00 per metric tonne. TCE earnings jumped $12,829 to $97,620 per day, reflecting active US Gulf exports and limited vessel supply in the Atlantic.

On the BLPG3 Houston–Chiba route, rates surged $16.83 to $154.33 per metric tonne, with TCE earnings up $13,585 to $79,353 per day. The long-haul market strengthened on the back of US–Asia flows and firming sentiment around constrained tonnage.