LNG

The LNG spot market continued to soften this week, with rates retreating further as the seasonal Q1 dip became more pronounced and the tonnage list lengthened, particularly in the Atlantic Basin.

On the BLNG1 Australia–Japan route, 174k cbm vessels edged down $1,200 to $41,400/day.

However, with 2-stroke availability remaining relatively tight, rates found support and avoided a sharper correction. The BLNG2 US Gulf–Continent route saw the largest drop of the week, with 174k cbm rates falling $21,300 to $26,000/day. A long position list and few fresh cargoes weighed on the Atlantic market. Similarly, the BLNG3 US Gulf–Japan route weakened, with 174k cbm earnings dropping $19,300 to $29,500/day. Time charter levels remained stable this week. The six-month rate held steady at $30,750/day, while the one-year term eased slightly by $225 to $42,150/day. The three-year period slipped marginally by $100 to $55,900/day.

LPG

The LPG market delivered mixed performance this week, with modest gains in the East contrasting with softer sentiment across western routes as momentum faded toward the end of the week. On the BLPG1 Ras Tanura–Chiba route, freight rates firmed by $2.33 to $82.50/mt, while TCE earnings increased by $1,456 to $71,798/day, supported by a steady flow of new cargoes entering the market. The BLPG2 Houston–Flushing route was flat in freight terms, holding at $80.25/mt. However, TCE earnings slipped marginally by $966 to $83,925/day.

On the BLPG3 Houston–Chiba route, freight rates eased by $1.00 to $144.83/mt, with TCE earnings declining by $1,998 to $73,384/day. As the recent flurry of activity in the Atlantic began to slow, sentiment turned slightly more bearish, with the position list set to lengthen.