LNG

The LNG market strengthened this week, with relatively high fixing activity east of Suez helping to tighten vessel availability. The Atlantic also saw a gradual improvement in spot rates, although cargo demand remains relatively subdued and the tonnage list continues to limit further upside.

On the BLNG1 Australia–Japan route, rates increased by $9,600 week-on-week to settle at $54,600/day. Increased fixing activity and a tightening pool of available vessels supported rates throughout the week.

The BLNG2 US Gulf–Continent route increased by $5,700 to close at $35,300/day. Rates gradually firmed as some tonnage was absorbed, although subdued demand and continued vessel availability kept the increase measured.

Similarly, the BLNG3 US Gulf–Japan route gained $2,200 week-on-week to settle at $64,600/day. The route remained supported by tightening effective availability, although a wider bid-offer spread continued to limit liquidity.

In the time charter market, rates were mixed. The six-month rate increased by $1,700 to $44,200/day, while the one-year term rose by $200 to $54,067/day. Further out the curve, the three-year period edged lower by $100 to $70,500/day.


LPG

The LPG market firmed this week, with a healthy level of fixture activity in the West supporting rates. With further cargoes still being worked and vessel availability broadly balanced against demand, sentiment remains positive.

On the BLPG1 Ras Tanura–Chiba route, rates settled at $261.40 per tonne, with TCE earnings closing at $254,022/day.

The BLPG2 Houston–Flushing route increased by $5.33 week-on-week to settle at $180.00 per tonne, with TCE earnings rising by $9,610 to $210,924/day.

Similarly, the BLPG3 Houston–Chiba route gained $8.29 to close at $322.29 per tonne, while TCE returns increased by $10,491 to $196,055/day. The route strengthened through the week as cargo activity remained healthy and the position list stayed relatively balanced.