LNG

As expected with International Energy Week bringing many industry professionals together out and about around London there were fewer fixtures reported.

Rates were flat, with a slight softening across a few routes while period was very quiet.

BLNG1 Aus-Japan on the 2-stroke 174cbm ships lost $2,230 to close at $53,983 while the TFDE 160cbm ships finished at $36,101 a fall of nearly two thousand. The Atlantic basin saw pretty much the only activity of the week with one ship reported on subs at around $55,000 for a voyage into Japan from the US.

The Baltic BLNG3 US-Japan closed at $52,811 on the 2-strokes while the TFDE 160cbm ship finished at $40,964 up $1674. BLNG2 US-Cont on the 2-Stroke 174cbm ship closed at $50,622 a rise of $1,948 while the 160cbm ship finished at $37,886 up $1,476.

Period for LNG was very quiet 6-month terms remained at £62,500 while the 1-Year period rose $1000 to $78,300. 3-Year terms unchanged at $90,100.

LPG

What goes up, must come down and BLPG1 Ras Tanura-Chiba certainly has lived up to the hype, a drop of $23.429 over the week shaved off 28.82% off the routes value. With a final publication value of $57.857 and a daily TCE earning equivalent of $36,089 there was little hope that the few remaining cargoes would be able to stave off any further fall or initiate a new rise.

Across the Atlantic there was less dramatic movement, BLPG2 Houston-Flushing lost $2.4 on the week to close at $61.6 and a daily TCE earning of $59,383.

On BLPG3 Houston-Chiba a slightly bigger fall pushed rates to a close of $110.286 and a daily TCE of $44,431 – with International Energy Week on and many market participants out enjoying themselves it was expected to be quiet, and the index reacted accordingly.