LNG
The LNG spot market experienced a quiet week, with rates easing modestly across all major routes amid subdued fixing activity. While underlying vessel availability remains relatively tight, the lack of fresh cargo demand kept downward pressure on earnings across both basins.
On the BLNG1 Australia–Japan route, 174,000 cbm vessels declined by $3,400 week-on-week to settle at $67,100/day. The Pacific market remained muted, with minimal activity and little momentum to support rates.
The BLNG2 US Gulf–Continent route edged lower, with earnings slipping $1,000 to $94,500/day. Despite a relatively balanced Atlantic position list, the absence of meaningful fixing activity restricted any upside.
Similarly, the BLNG3 US Gulf–Japan route softened by $2,000 to $105,000/day, as weaker long-haul demand and subdued enquiry weighed on sentiment.
In the time charter market, sentiment was mixed. The six-month rate declined by $1,200 to $92,100/day, reflecting the softer spot environment. In contrast, the one-year term increased by $4,367 to $86,700/day, while the three-year period rose $5,000 to $85,000/day, indicating continued confidence in the longer-term outlook despite near-term softness.
LPG
The LPG market continued its upward momentum this week, driven by a tightening tonnage list and sustained chartering interest. Limited prompt vessel availability in the Atlantic, continued to lend firm support to rates, pushing all routes higher.
On the BLPG1 Ras Tanura–Chiba route, rates increased $14.00 week-on-week to $203.50, with TCE earnings rising $14,925 to $192,282/day.
BLPG2 Houston–Flushing strengthened further, rising $20.25 to $157.00, with TCE earnings up $29,085 to $177,094/day, in line with the broader firming trend led by BLPG3.
Similarly, the BLPG3 Houston–Chiba route recorded the strongest gains of the week, surging $37.92 to $291.50, with TCE returns up $29,542 to $174,790/day. The combination of limited vessel supply and firm long-haul demand drove rates to fresh highs, maintaining the market’s bullish trajectory.