LNG

The LNG market saw mixed sentiment this week, with rates holding steady on some routes and softening on others, as stable vessel availability met with a steady stream of cargoes.

On the BLNG1 Australia–Japan route, rates for 174k cbm vessels fell $1,300 to $37,200 per day, while 160k cbm ships gained $800 to $22,400, as Pacific demand remained modest but selectively supportive of smaller vessels.

The BLNG2 US Gulf–Continent route diverged slightly, with 174k cbm rates rising $400 to $33,200, and 160k cbm units also up $400 to $20,500, supported by steady activity and a relatively balanced tonnage list.

The BLNG3 US Gulf–Japan route continued to ease, with 174k cbm rates down $600 to $39,800, and 160k cbm ships falling $500 to $24,400, as transpacific chartering remained subdued.

Time charter levels extended their decline. The six-month TC fell $1,850 to $50,850 per day. One-year rates dropped $1,900 to $47,500, while three-year levels decreased $2,850 to $58,250, as sentiment cooled further in the period market.

LPG

The LPG market further firmed this week, supported by tightening vessel availability and robust chartering demand, particularly in the Atlantic. Rates surged across all major routes, with sentiment buoyed by a progressively thinner tonnage list.

On the BLPG1 Ras Tanura–Chiba route, rates climbed $4.00 to $84.67 per metric tonne. TCE earnings jumped $4,686 to $71,533 per day, reflecting sustained Middle East activity and limited tonnage options heading into mid to late August.

The BLPG2 Houston–Flushing route also rallied, up $2.75 to $78.00, with TCE returns rising $3,867 to $85,361 per day. The BLPG3 Houston–Chiba route followed suit, gaining $4.58 to $141.08 per metric tonne. TCE earnings rose by $3,871 to $67,623 per day. These increases were underpinned by continued vessel supply constraints in the Atlantic, which drove discussions into higher rate territory.
Source: Baltic Exchange