LNG

A quiet week for the LNG market, at least in terms of spot fixing. With few reported fixtures around either basin the spot price has languished staying particularly flat, BLNG2-174 moved only $75 on the week overall.

Rates are close to the bottom and brokers are looking at more period focused deals to fill their quotas, with ballas bonus back to the hub only in the Pacific and the just back on the cusp of back to loadport in the Atlantic there isn’t much impetus for the market to shift quickly.

BLNG1-174 Aus-Japan shed $1355 on the week closing at $52,628 while as previously stated BLNG2-174 gained an impressive $75 to finish up virtually unchanged at $50,697. BLNG3-174 moved little to finish at $54,473 a rise of $1662 on the week. The 160cbm index followed suit, BLNG1g was down only $756 finishing at $35,345 while BLNG2g and BLNG3g both moved up by $606, and $2027 respectively. The close at $38,492 and $42,991 respectively for BLNG2g and BLNG3g ends a rather uninteresting week for the spot market.

As discussions focused more on 1 year+ period rates for six months remained unchanged at $62,500. The 1-year assessment moved up to a close of $79,300 while 3-year terms were unchanged as yet on $90,100.

LPG

Many people from the LPG market have been in Tokyo for the LPG Conference this week, which has helped in keeping the AG market quiet. Rates were steady/flat across the week with a stable tonnage list if quiet cargo sheet. Rates for BLPG1 Ras Tanura-Chiba rose by $2.714 giving a final publication rate of $29,571 and a daily TCE earning equivalent of $37,920.

The US Market was a little more subdued in actual fixtures – only one reported spot fixture whereas there have been fewer than five for April window so far. A tighter tonnage list after a clear out on contractual business means the ships free to work spot were greatly reduced.

The rates reacted accordingly and for BLPG2 Houston-Flushing a rise of $4.4 pushed the index up to $63.8 and a daily TCE earning equivalent of $62,105. BLPG3 Houston-Chiba gained a decent chunk of change moving up $8.714 to a close of $114.857 and a daily TCE Earning equivalent of $41.923.