LNG

It is another week of little spot fixing in the LNG market, both the Atlantic and Pacific have seen some tentative enquiries but with these either delaying or being fixed on quietly, the material difference to spot rates is negligible.

On the Aus-Japan BLNG1 route both the 160cbm and 174cbm shed a few dollars to finish down at $33,897, and $51,265 respectively; constructs for these deals are being assessed both as Ballast Bonus to Hub and Roundtrip. While the Atlantic held more enquiry a stable and unchanged tonnage list didn’t drive prices up particularly, this could be some small hangover from the US governments pause on new FTA requests, but it’s more likely down to a continued shutdown in Freeports train 3 which enters its 7th week and overall market bearishness.

Rates for BLNG2 US-Continent gained modestly with the 174cbm BLNG2 run moving up to $51,697 a gain of $1000, while the 160cbm moved less up $497 to $38,989. BLNG3 US-Japan fared better with greater increases (but in LNG freight market circles, still very flat) up $1991 for the 174cbm while the 160cbm gained $1400, these closed at $56,464 and $44,391 respectively. The deal constructs for Atlantic basin are being assessed on a Round Trip basis.

The period market floundered significantly for a three year period losing $10,400 down to $79,700 while one year deals moved down to $78,700 and the multi month six month period lost $3700 to finish at $58,800.

LPG

The LPG market has made a pretty miraculous turnaround this week we are seeing levels fixed not seen since early January before the “big fall”. The AG market is awash with potential ships available for early April while the US market has a fair amount of uncertainty remaining around ships itineraries. In any case, rates have bolstered significantly for BLPG1 Ras Tanura-Chiba where an increase of $15.428 has put us back on track with a closing price of $78.857 and a daily TCE earning equivalent of $59,825.

The Atlantic market was very busy with many fixtures reported and every day improving bids/offers pushed the index up. With BLPG3 Houston-Chiba rising by $19.571 throughout the week and a close of $137.714, levels fixed that have not been seen since early January.

The BLPG2 Houston-Flushing gained a comparably modest $10.8 closing at $77 but it is still not to be sniffed at. Both routes TCE earnings gained close to $16,000 PD and finished at $81,160 and $60,390 for BLPG2 and BLPG3 respectively.