LNG

The LNG freight market saw mixed movements this week, with modest gains in the Pacific contrasting with sharper losses across Atlantic routes. A softening of charter demand in the West weighed on sentiment, while Pacific basin routes showed some resilience.

On the BLNG1 Australia–Japan route, rates for 174k cbm vessels rose by $500 to $39,600/day, while 160k cbm units climbed by $1,800 to $24,600, buoyed by firmer Pacific demand and reduced availability.

Conversely, Atlantic basin routes weakened notably. The BLNG2 US Gulf–Continent route fell by $6,200 for 174k cbm vessels to $32,300/day, and dropped $2,200 to $20,200 for 160k cbm ships. Meanwhile, the BLNG3 US Gulf–Japan route slid $8,800 to $41,200 for 174k cbm units, while 160k cbm vessels declined $4,000 to $28,000.

Time charter markets were similarly softer. Six-month and one-year deals both dipped by $1,000 to $55,500 and $50,100/day, respectively, while three-year terms held steady at $61,900.

LPG

The LPG market was broadly steady this week, with rates trading within a tight band across all major routes. A lack of fresh drivers and a balanced tonnage list kept sentiment flat, although modest gains were seen on key long-haul routes.

On the BLPG1 Ras Tanura–Chiba route, rates edged up by $0.50 to $79.33 per metric tonne, with TCE earnings rising slightly by $427 to $64,883/day.

The BLPG2 Houston–Flushing route softened marginally, with rates easing $0.25 to $72.50, and TCE earnings dipping $482 to $77,323/day.

The BLPG3 Houston–Chiba route posted a modest gain of $0.67 to $130.25 per metric tonne. TCE earnings improved by $388 to $58,348/day.

Overall, the market maintained a stable footing, with little volatility and limited upside catalysts. Attention now turns to the second half of July, where shifts in US and Middle East exports could provide firmer direction.
Source: Baltic Exchange