LNG

The LNG spot market continued to show strength this week, with the Atlantic basin rebounding mid-week while the Pacific softened overall. Early weakness across both basins was followed by a pickup in activity in the West, supported by more bullish short-term sentiment driven by recent escalations in the Middle East.

On the BLNG1 Australia–Japan route, 174k cbm vessels declined $13,500 week-on-week to settle at $138,000/day, as the Pacific market eased despite some volatility during the week.

The BLNG2 US Gulf–Continent route strengthened, with earnings rising $12,340 to $167,000/day. Similarly, the BLNG3 US Gulf–Japan route increased $18,500 to $181,000/day, reflecting improved momentum in the Atlantic market during the second half of the week.

In the time charter market, period rates moved lower as sentiment cooled following the recent volatility in spot earnings. The six-month rate fell $14,100 to $89,200/day, while the one-year term declined $14,433 to $80,167/day. Further out the curve, the three-year period slipped $3,000 to $78,000/day, indicating a more cautious outlook in the longer-term market.

 

LPG

The LPG market strengthened sharply this week as oil and gas prices surged amid escalating strikes in the Middle East, with rising bunker costs adding further upward pressure to freight. Increased volatility and bullish short term sentiment helped push rates higher across the key routes.

On the BLPG1 Ras Tanura–Chiba route, rates moved up to $122.00, with TCE earnings settling at $90,323/day.

The BLPG2 Houston–Flushing route also firmed over the week, rising $10.25 to $92.50, with TCE earnings increasing $14,934 to $85,299/day.

Similarly, the BLPG3 Houston–Chiba route climbed $36.33 to $175.00, with TCE returns jumping $29,307 to $72,577/day, reflecting the broader bullish sentiment in the market.