LNG

Another week of trading sideways in the LNG market, with no real momentum being seen. Minimal gains were seen in the Atlantic for 174k cbm, but all other routes for both 174K and 160K vessels saw slight decreases.

On the BLNG1 Australia–Japan route, 174k cbm earnings slipped $600 to $24,600 per day, while 160k vessels decreased $300 to $13,500 per day, reflecting limited Pacific demand and ample tonnage in the basin.

The BLNG2 US Gulf–Continent route 174k cbm ships rose $800 to $22,600 per day, whereas 160k tonnage edged $400 lower to $11,000 per day.

The BLNG3 US Gulf–Japan route firmed for larger ships, with 174k cbm rates increasing $1,200 to $26,600 per day. In contrast, 160k cbm vessels lost ground, falling $800 to $13,100 per day.

Time charter benchmarks continued to ease. The six-month TC rate fell $1,100 to $29,900 per day, the one-year slipped $1,000 to $34,250, and the three-year term softened $500 to $50,500.

 
LPG

The LPG market had another slow week, due to the narrowing arb econs and the announcement of CP. With a long MEG position list and illiquid US FOBs, it led to another softening in the market.

On the BLPG1 Ras Tanura–Chiba route, rates fell $4.75 to $67.67 per metric tonne, with TCE earnings down $5,051 to $53,605 per day as Middle East tonnage remained long.

The BLPG2 Houston–Flushing route saw the steepest declines, dropping $7.50 to $73.50 per metric tonne, with TCE returns slipping $9,866 to $81,498 per day. Following the BLPG3 route drop.

The BLPG3 Houston–Chiba route likewise retreated, shedding $12.67 to $135.33 per metric tonne, while TCE earnings decreased $9,785 to $64,171 per day. Amid softer Atlantic demand and constrained arbitrage opportunities.