LNG

The LNG spot market was relatively steady this week, with the Atlantic market holding firm while the Pacific experienced some tightening in vessel availability. Limited prompt tonnage in the East provided support to rates, although overall activity levels remained moderate across both basins.

On the BLNG1 Australia–Japan route, 174,000 cbm vessels gained $6,400 week-on-week to settle at $76,400/day, as tightening Pacific tonnage and steady enquiry helped lift sentiment through the week.

The BLNG2 US Gulf–Continent route remained broadly stable, edging up $400 to $106,000/day. The Atlantic market continued to see balanced fundamentals, with stable cargo flow and limited vessel availability keeping rates supported.

Meanwhile, the BLNG3 US Gulf–Japan route eased marginally by $600 to $120,000/day. Despite softer long-haul sentiment toward the end of the week, the market remained relatively firm overall.

In the time charter market, the six-month rate increased $1,200 to $98,100/day, reflecting continued support in the shorter-term market. Further out the curve, sentiment softened slightly, with the one-year term falling $2,567 to $80,300/day, while the three-year period declined $5,000 to $78,000/day.

LPG

The LPG market showed signs of reaching a ceiling this week, with rates coming under pressure towards the end of the period. A weakening arbitrage and the emergence of relets weighed on sentiment, while previously tight conditions began to ease, leading to a notable correction across all routes.

The BLPG1 Ras Tanura–Chiba route settled at $203.88 and TCE earnings at $193,699/day.

The BLPG2 Houston–Flushing route saw a sharp correction, dropping $15.50 to $162.75, while TCE earnings fell $20,357 to $189,953/day. The Atlantic market weakened as relets entered the market.

Similarly, the BLPG3 Houston–Chiba route experienced the largest decline, falling $30.83 to $292.50, with TCE returns down $22,786 to $176,799/day. Long-haul demand softened notably, with the combination of a weakening arb and increased vessel availability driving rates lower towards the end of the week.