LNG

The LNG market had another strong week, with a flurry of new cargoes and a tightening position list becoming more pronounced in the East and West.

On the BLNG1 Australia–Japan route, 174k cbm vessels gained $4,500 to $28,400 per day, while 160k cbm tonnage increased $6,900 per day to $20,000 per day, as a couple new cargoes appeared with limited vessels able to reach the laycan.

The BLNG2 US Gulf–Continent route strengthened notably, with 174k cbm rates rising $3,800 to $34,000 per day and 160k cbm ships gained $4,900 to $21,800 per day, supported by limited vessel availability and cargo liquidity.

The BLNG3 US Gulf–Japan route followed and gained momentum, with 174k cbm vessels up $3,250 to $38,400 per day and 160k cbm tonnage rising $4,600 to $23,900 per day.

Time charter levels followed the spot markets sentiment and also saw gains. The six-month rate increased $1,150 to $30,900 per day, the one-year term gaining $1,000 to $33,500 per day, while the three-year period gained $1,500 to settle at $52,000 per day.

 

LPG

The LPG market has continued to soften this week, with rates easing across all major routes as sentiment further weakens by ongoing US and China tensions, and lack of cargo liquidity.

On the BLPG1 Ras Tanura–Chiba route, rates fell $2.83 to $57.75 per metric tonne, with TCE earnings slipping $3,283 to $44,073 per day. Due to a growing tonnage list and lack of enquiry.

The BLPG2 Houston–Flushing route declined $0.75 to $60.75 per metric tonne, while daily returns dropped $1,691 to $63,541 per day following BLPG3 drop.

The BLPG3 Houston–Chiba route lost $2.00 to $113.50 per metric tonne, with TCE earnings down $1,739 to $48,355 per day. With sentiment becoming more bearish amid a weakening arbitrage and inactivity.