LNG

The LNG market softened this week, with rates easing across all major routes after the strong gains of the past two months, driven largely by the rebalancing of 2-stroke tonnage in the West.

On the BLNG1 Australia–Japan route, 174k cbm vessels fell $3,400 to $87,000 per day, while 160k cbm ships posted a smaller decline of $400 to $68,600 per day, following the cooling sentiment in the west.

The BLNG2 US Gulf–Continent route saw the steepest correction this week, with 174k cbm rates dropping $16,800 to $115,000 per day. Meanwhile, 160k cbm vessels decreased $12,000 to $78,000 per day, as Atlantic availability improved.

The BLNG3 US Gulf–Japan route also weakened, with 174k cbm earnings down $15,000 to $118,000 per day, while 160k cbm tonnage declined $11,000 to $81,500 per day.

Time-charter sentiment strengthen with the six-month rates increasing $2,150 to $42,650 per day, and the one-year term rising $2,125 to $43,000 per day, and the three-year period edging up $100 to $55,100 per day.

 

LPG

The LPG market saw mixed activity this week, with diverging trends between the East and West. In the East, activity remained relatively subdued, leading to downward pressure on rates as sentiment softened and the tonnage list lengthened. Meanwhile, the West experienced a notable uptick in fixing interest, tightening availability and driving rates higher toward the end of the week.

On the BLPG1 Ras Tanura–Chiba route, rates eased slightly, falling $0.75 to $73.00, with the corresponding TCE declining $759 to $61,552 per day as limited demand failed to absorb growing regional tonnage.

The BLPG2 Houston–Flushing route saw improved movement of the week. Rates climbed $4.00 to $71.25, while the TCE jumped $6,188 to $79,873 per day.

The BLPG3 Houston–Chiba route followed, with rates rising $7.83 to $129.50, and the TCE increasing $6,335 to $61,495 per day reflecting a spike in Western activity and increased competition for available vessels.