LNG

The LNG spot market was broadly steady but subdued this week. With much of the market attending events in Doha and preparations for IE Week underway, activity was notably thin, resulting in a particularly quiet market.

On the BLNG1 Australia–Japan route, 174k cbm vessels slipped $1,200 to $29,400/day, with the East continuing to show greater resilience than the West.

The BLNG2 US Gulf–Continent route edged up $1,000 to $11,200/day, amid a disconnect between the visible tonnage list and actual prompt availability. Similarly, the BLNG3 US Gulf–Japan route rose $1,400 to $15,000/day.

In the time-charter market, sentiment softened slightly. The six-month rate eased $350 to $26,900/day, the one-year term dipped $50 to $38,075/day, and the three-year period declined $833 to $58,667/day.

 

LPG

The LPG market surged this week, with fixing activity accelerating in the West and the East following the Atlantic’s upward momentum. Strength built as the week progressed, with sentiment turning increasingly bullish as the prompt tonnage list tightened, particularly in the Middle East, while firm Atlantic fundamentals continued to provide support.

On the BLPG1 Ras Tanura–Chiba route, rates climbed $8.32 to $97.93, lifting TCE earnings by $9,540 to $87,853/day. Steady enquiry in the East, a tightening position list, combined with improving sentiment from the Atlantic, underpinned the move.

The BLPG2 Houston–Flushing route also firmed, rising $1.00 to $87.88, with TCE returns up $1,704 to $93,896/day. The BLPG3 Houston–Chiba route edged higher as well, gaining $1.08 to $159.33. Corresponding TCE earnings increased by $1,087 to $84,359/day. While gains were more measured than in the East, a healthier cargo flow kept the market well supported.