LNG

The LNG market came under slight pressure this week, with rates softening across most routes. The Atlantic basin was mixed, while the Pacific saw modest losses. Long-term charter rates also edged lower, reflecting broader caution in the market.

On the BLNG1 Gladstone–Tokyo route (174k cbm), rates dropped $567 to $24,700 per day. The corresponding 160k cbm rate fell more sharply by $1,500, settling at $14,500 per day.

In the Atlantic, the BLNG2 Sabine–UK Continent route saw a slight $67 decrease to $22,600 for 174k cbm ships, while 160k cbm vessels slipped by $500 to $12,100.

The BLNG3 Sabine–Tokyo route was the only route to show strength this week. 174k cbm carriers rose $1,665 to $29,500, while 160k cbm vessels gained $498, ending at $15,300.

The period market also experienced a downward adjustment, reflecting weaker forward sentiment. Six-month time charter rates for a 174k cbm vessel declined by $350, settling at $27,900/day, while one-year rates also dropped $350 to $32,575/day. The three-year rate was relatively stable but still edged down by $50, closing the week at $53,300/day.

LPG

The LPG market experienced a dramatic downturn this week, with rates plunging across all major routes amid a shock reaction to newly imposed U.S. tariffs. The sudden policy moves by the Trump administration sent ripples in the LPG trade flows and eroded confidence in forward demand.

On the BLPG1 Ras Tanura–Chiba route, rates dropped harshly by $23.17, falling to $33.50, while TCE earnings decreased $22,778 to $17,474. This marks one of the sharpest single-week declines in recent memory, reflecting a rapid cooling of Middle East–East Asia flows.

In the Atlantic, the BLPG2 Houston–Flushing route mirrored this volatility, dropping $15.25 to $41.25, with TCE earnings losing $19,625, ending at $36,607.

The BLPG3 Houston–Chiba route saw the steepest fall, with rates shedding $28.08 to settle at $75.17. Corresponding TCE earnings tumbled $19,020 to $18,727, underscoring how uncertainty and policy disruption are weighing heavily on U.S. long-haul trade to the east.