LNG

The LNG market weakened further this week as weak demand and abundant tonnage drove rates lower across all key routes. Sentiment remained bearish, with spot activity thin and charterers firmly in the driver’s seat.

On the BLNG1 Australia–Japan route, rates for 174k cbm vessels dropped $2,900 to $25,400 per day, while 160k cbm earnings fell $2,500 to $14,200 per day, reflecting a pronounced slowdown in Pacific fixtures and a long tonnage list.

The BLNG2 US Gulf–Continent route also weakened significantly, with 174k cbm rates down $3,000 to $21,800 per day and 160k cbm ships off $2,100 to $11,400 per day.

The BLNG3 US Gulf–Japan route saw the steepest losses, plunging $5,200 to $25,400 per day for 174k cbm vessels and $3,000 to $13,900 per day for 160k cbm units amid lacklustre long-haul demand, a weak arb and plentiful available ships.

Time charter levels tracked the spot market lower. The six-month TC rate fell $5,150 to $31,000 per day, the one-year rate dropped $4,000 to $35,250, and the three-year term slipped $4,500 to $51,000, underscoring a softening market outlook.

 
LPG

The LPG market softened again this week, with arbitrage economics continuing to limit spot activity and weigh on sentiment. A lack of fresh enquiries and USTR developments kept pressure on rates, while tonnage availability remained comfortable across both basins.

On the BLPG1 Ras Tanura–Chiba route, rates fell $4.33 to $72.33 per metric tonne, with TCE earnings down $5,053 to $58,705 per day as Middle East market remained subdued.

The BLPG2 Houston–Flushing route eased $1.75 to $82.00 per metric tonne, while TCE returns slipped $3,036 to $93,087 per day, reflecting BLPG3 voyages.

The BLPG3 Houston–Chiba route declined $2.50 to $149.50 per metric tonne, with TCE earnings dropping $2,182 to $75,320 per day as the closed arb kept long-haul chartering subdued.