LNG

This week with many people attending the bi-annual Posidonia events out in Greece expectations were that the market would be quite flat.

But with several requirements out in the Atlantic being worked, and a couple fixtures being reported rates actually rallied across the three routes.

BLNG1 Australia-Japan was the quietest route with fewer enquiries being reported, both the 174cbm and the 160cbm moved up with BLNG1-174 closing at $48,600 while the BLNG1g-160 was flatter moving $61 only and finishing at $34,980. Both ships are working basis ballast bonus to hub.

In the Atlantic rates were moving up with a fixture Ex-US reported in the mid $60,000’s we published at $65,000 for BLNG3-174 Houston-Japan while the 160cbm ship finished at $51,074. On BLNG2 Houston-Cont closed at $56,389 for the BLNG2-174 while the 160cbm ship finished at $43,603.

Period remained active with shorter terms gaining ground while owners look to being employed over the winter period. 6-Months gained $8,500 to $95,000 while 1-Year moved up to $84,600 and longer 3-year terms published at $83,800.

LPG

The MEG market had little movement for most of the week with the last day only showing any change. Rates were soft, few cargoes working and relatively few fixtures didn’t do much to bolster sentiment. There has been a recent uptick in cargoes Ex-India and some analysts are suggesting this rise is to continue but rates themselves held before the fall and we finished $4.286 down with a close of $81.571 giving a daily TCE earning of $65,646.

The US Market didn’t fare much better with both BLPG3 Houston-Chiba and BLPG2 Houston-Flushing finishing down. There were very few fixtures to speak of and BLPG3 lost $5.412 to a close of $141.429 and a daily TCE earning of $69,059. While the BLPG2 hovered around the open with only the last day showing much of a loss, an overall change of $2.8 meant we finished at $79 and a daily TCE earning equivalent of $86,973.