LNG

The LNG market began to cool slightly this week after a few weeks of sharp gains, with activity slowing and signs emerging that rates may be starting to level off. Even so, the market remains heavily influenced by how the tight 2-stroke tonnage list evolves, keeping sentiment cautiously firm. On the BLNG1 Australia–Japan route, 174k cbm vessels slipped $200 to $90,400 per day, while 160k cbm ships posted a larger decline of $2,000 to $70,600 per day, marking the first downward movement in weeks. The BLNG2 US Gulf–Continent route continued to strengthen, with 174k cbm rates rising $3,500 to $127,000 per day, and 160k cbm vessels gaining $7,000 to $89,000 per day. The BLNG3 US Gulf–Japan route also firmed further, with 174k cbm earnings up $4,000 to $131,000 per day, while 160k cbm tonnage increased $6,500 to $93,000 per day. Time-charter sentiment followed the broader trend. The six-month rate rose $1,500 to $40,500 per day, the one-year term increased $1,550 to $40,875 per day, and the three-year period edged up $250 to $55,000 per day.

LPG

The LPG market experienced a steady week, with activity in the East starting off firm before tapering toward the end as the tonnage list is set to lengthen. In the West, weaker arbitrage economics kept charterers cautious, resulting in fewer fresh enquiry. On the BLPG1 Ras Tanura–Chiba route, rates gained $3.17 to settle at $73.83 per tonne, while TCE earnings were broadly flat, rising just $108 to $62,362 per day. The BLPG2 Houston–Flushing route held almost steady, edging up only $0.13 to $67.38 per tonne, with TCE earnings slipping $981 to $73,751 per day. On the BLPG3 Houston–Chiba route, rates rose $0.33 to $122.83 per tonne, though daily returns softened by $3,114 to $56,033 per day, as weak arb economics continued to limit fixtures.
Source: Baltic Exchange