LNG

Following Posidonia, the LNG market saw a relatively subdued week overall, with rates largely trading sideways amid limited cargo visibility. While enquiry remained thin, the tonnage list continued to hold tight, offering some underlying support and potential upside should activity pick up.

On BLNG1 Australia–Japan, rates edged higher over the course of the week, gaining $1,400 to settle at $82,000/day. The route saw some midweek strength, peaking on Wednesday, before easing slightly and stabilising towards the end of the week.

BLNG2 US Gulf–Continent saw a firmer week overall, increasing $1,900 week-on-week to close at $105,500/day. Rates fluctuated through the week but trended upwards into Friday, supported by the tight tonnage list despite a lack of visible fixing activity.

BLNG3 US Gulf–Japan saw a slight decrease, despite some early-week stability. The route came under pressure midweek before recovering slightly, ultimately posting a weekly decline of $2,600 to settle at $115,000/day.

Sentiment was positive on the period side. The 6-month time charter increased by $1,100 to $100,900/day, while the 12-month assessment edged higher by $167 to $80,267/day. The 3-year time charter also firmed, gaining $100 to reach $80,000/day.

LPG

The LPG market softened this week, with rates coming under pressure across the Atlantic as fixing activity remained relatively subdued and fewer fresh cargoes emerged. Despite the weaker sentiment, vessel availability remains tight, suggesting there is still potential for upside should enquiry levels improve.

On the BLPG1 Ras Tanura–Chiba route, rates were assessed at $237.50, with TCE earnings at $233,265/day.

The BLPG2 Houston–Flushing route eased over the week, falling $8.25 to $146.50, while TCE earnings declined by $10,237 to $168,436/day. Limited fixing activity and a lack of fresh cargoes weighed on sentiment, although the relatively short position list prevented a sharper correction.

Similarly, the BLPG3 Houston–Chiba route softened, declining $15.75 to $260.00. TCE returns fell by $10,733 to $152,667/day. Despite the pullback, underlying vessel availability remains tight, which could provide support should market activity pick up again.