LNG

The LNG spot market remained relatively flat this week, with balanced tonnage and enquiry across both basins keeping sentiment steady.

On the BLNG1 Australia–Japan route, 174k cbm vessels eased $1,700 week-on-week to settle at $64,800/day, as muted Pacific activity and a balanced tonnage list kept the market steady but under slight pressure.

The BLNG2 US Gulf–Continent route softened marginally, with earnings slipping $800 to $94,300/day. Despite limited vessel availability in the Atlantic, a lack of fresh cargoes prevented any meaningful upside momentum.

Similarly, the BLNG3 US Gulf–Japan route declined $5,300 to $100,800/day, with less long-haul enquiry due to a weaker arb.

In the time charter market, period rates were mixed. The six-month rate edged up $200 to $92,300/day, while the one-year term fell $1,600 to $85,100/day. The three-year period also eased slightly, down $1,000 to $84,000/day, reflecting a more cautious longer-term outlook despite relatively stable spot fundamentals.

LPG

The LPG market continued to firm this week, supported by an exceptionally tight position list. Limited prompt vessel availability maintained upward pressure on rates, although momentum showed signs of moderating towards the end of the week.

The BLPG1 Ras Tanura–Chiba route settled at $207.50 and TCE earnings at $195,775/day.

The BLPG2 Houston–Flushing route extended its upward trend, rising $9.00 to $166.00, while TCE earnings increased $11,167 to $190,810/day. Following the strength of the BLPG3 index.

The BLPG3 Houston–Chiba route saw further strength, increasing $13.17 to $305.33, with TCE returns up $8,620 to $184,796/day. A very tight Atlantic tonnage list and steady enquiry continued to support gains, allowing owners to maintain upward pressure on pricing.