LNG

The LNG market remained quiet this week, with limited cargo liquidity and a broadly balanced freight outlook. With few new requirements entering the market, rates softened slightly across all three routes.

On the BLNG1 Australia–Japan route, rates eased by $2,000 week-on-week to settle at $73,900/day. Activity in the Pacific basin remained limited, with little movement in either cargo demand or vessel availability.

The BLNG2 US Gulf–Continent route declined by $2,400 to close at $93,600/day. The market drifted lower through the week as a lack of fresh enquiries weighed on sentiment and reduced support for rates.

Similarly, the BLNG3 US Gulf–Japan route fell $1,900 week-on-week to settle at $106,600/day, pressured by the overall lack of liquidity which kept downward pressure on freight levels.

In the time charter market, sentiment softened across all periods. The six-month rate fell by $5,000 to $83,100/day, while one-year declined by $7,567 to $70,100/day. Further out the curve, three-year term rates decreased by $5,300 to $71,000/day.

LPG

The LPG market surged higher this week, supported by a widening arbitrage which encouraged additional cargo activity and improved sentiment across the VLGC sector.

On the BLPG1 Ras Tanura–Chiba route, rates settled at $238.50, with TCE earnings closing at $231,790/day.

The BLPG2 Houston–Flushing route increased by $31.25 week-on-week to settle at $163.25, with TCE earnings rising by $43,223 to $189,338/day. Rates strengthened to match sentiment throughout the week.

Similarly, the BLPG3 Houston–Chiba route gained $45.50 to close at $292.17, while TCE returns increased by $33,938 to $175,512/day. The route saw the strongest increase, supported by improved Eastbound economics and the widening arb.