LNG

The LNG market softened further this week, with rates retreating across all major routes as the recent highs unwound and the tonnage list begins to rebalance, particularly in the Atlantic.

On the BLNG1 Australia–Japan route, 174k cbm vessels fell sharply by $7,500 to $77,500 per day, while 160k cbm tonnage dropped $6,300 to $60,700 per day, reflecting weaker Pacific demand.

The BLNG2 US Gulf–Continent route saw significant downside, with 174k cbm rates declining $10,000 to $94,000 per day. Similarly, 160k cbm vessels eased $9,500 to $65,500 per day, as Atlantic tightness continued to ease.

The BLNG3 US Gulf–Japan route followed the broader correction, with 174k cbm earnings down $11,000 to $96,000 per day. Smaller 160k cbm vessels also lost $9,500, settling at $67,500 per day.

Time-charter levels softened in tandem with spot rates. The six-month TC rate fell sharply by $5,400 to $37,250 per day, while one-year rates eased $1,375 to $41,625 per day. The three-year term remained broadly stable, edging down just $100 to $55,000 per day, suggesting longer-term confidence remains relatively intact despite near-term weakness.

 

LPG

The LPG market saw slight improvements this week, with activity in the East remaining relatively subdued, while the West experienced a pickup in fixing, particularly toward the end of the week. This led to a shortening of the Atlantic position list, providing renewed support to freight rates.

On the BLPG1 Ras Tanura–Chiba route, rates edged higher by $1.50 to $80.08 per metric tonne. TCE earnings improved by $1,850 to $69,834 per day, supported by steady enquiry but limited follow-through in the East.

The BLPG2 Houston–Flushing route firmed as Atlantic activity picked up, gaining $1.50 to $73.00 per metric tonne. Corresponding TCE returns rose $2,829 to $83,155 per day.

The BLPG3 Houston–Chiba route strengthened further, with rates climbing $3.50 to $133.50 per metric tonne. TCE earnings increased by $2,988 to $65,065 per day, underpinned by strong fixing activity.