LNG

The LNG spot market remained under pressure this week, with rates continuing to decline across all major routes. A lengthy tonnage list and limited fresh cargo activity continued to weigh on sentiment, particularly in the Atlantic, allowing charterers to push rates lower.

On the BLNG1 Australia–Japan route, 174,000 cbm vessel earnings fell by $4,300 to $34,600/day. The East held relatively firmer than the West, as 2-stroke availability remains tight.

The BLNG2 US Gulf–Continent route saw further declines, with 174,000 cbm rates sliding by $6,100 to $15,400/day. Similarly, the BLNG3 US Gulf–Japan route softened further, with 174,000 cbm earnings dropping by $7,300 to $18,800/day.

A long position list and a lack of prompt cargoes continue to weigh heavily on the Atlantic market.

Time charter rates also saw correction. The six-month rate declined by $1,250 to $29,500/day, while the one-year rate eased by $4,650 to $37,500/day. In contrast, the three-year period rate increased by $1,600 to $57,500/day.

LPG

The LPG market came under pressure this week, with sentiment softening across all major routes. While the East saw pockets of activity, pricing remained highly date-dependent and the lengthening position list begins to weigh on confidence. In the West, activity was subdued, with charterers largely stepping back to reassess market direction.

On the BLPG1 Ras Tanura–Chiba route, rates fell $4.67 to $78.17/mt, with TCE earnings declining $5,113 to $67,018/day.

The BLPG2 Houston–Flushing route also weakened, dropping $5.25 to $74.50/mt, while daily returns slid $7,283 to $75,967/day amid limited Atlantic fixing and a quieter chartering environment.

Similarly, the BLPG3 Houston–Chiba route saw the sharpest correction of the week, falling $9.83 to $133.67/mt. TCE earnings eased $7,706 to $64,581/day, reflecting reduced momentum in the West and a more cautious market tone overall.
Source: Baltic Exchange