LNG

The LNG spot market further strengthened this week, with two-stroke tonnage remaining extremely tight in the Atlantic, driving higher rates on all major routes.

On the BLNG1 Australia–Japan route, 174k cbm vessels rose $10,900 to $90,100/day, while 160k cbm ships gained slightly more, rising from $61,400/day last Friday to $73,300/day today. The BLNG2 US Gulf–Continent route saw another significant jump up, with 174k cbm rates climbing $18,500 to $147,500/day.

Meanwhile, 160k cbm vessels increased from $93,000/day to $95,000, reflecting the available tonnage situation in the Atlantic Basin. The BLNG3 US Gulf–Japan route also strengthened considerably, with 174k cbm earnings up $24,500 to $149,500/day and 160k cbm tonnage gaining $9,000 to $99,000/day.

Timecharter sentiment followed the spot market but to a lesser degree. The six-month rate increased $1,050 to $39,000/day, the one-year term rose $1,575 to $39,325/day, and the three-year period firmed $250 to $54,750/day.

LPG

The LPG market remained broadly steady this week, with activity naturally slowing as Thanksgiving approached. Overall sentiment was balanced and enquiry levels remained steady, so freight levels held within a narrow range.

On the BLPG1 Ras Tanura–Chiba route, rates dipped slightly by $0.42 to $69.25 per tonne, though TCE earnings firmed $3,361 to $60,622/day. The BLPG2 Houston–Flushing route posted a modest gain, rising $0.88 to $66.25 per tonne, with daily earnings improving $3,694 to $73,328/day. The BLPG3 Houston–Chiba route also edged higher, up $1.17 to $121.00 per tonne, alongside a $4,770 increase in TCE to $57,896/day.

With the US holiday period expected to temper activity, market conditions are likely to stay steady in the near term.