LNG

The LNG market experienced a quieter week overall, with rates lowering across most routes as market participants continued to monitor developments in the Middle East.

On the BLNG1 Australia–Japan route, rates eased by $1,667 week-on-week to settle at $80,200 per day. The Pacific market remained relatively balanced, with a more cautious sentiment but steady fixing activity.

The BLNG2 US Gulf–Continent route saw a more notable correction, falling $11,900 to close at $92,500 per day. Activity remained subdued throughout the week, with uncertainty surrounding future cargo flows weighing on sentiment and gradually pressuring rates lower.

Similarly, the BLNG3 US Gulf–Japan route declined $11,200 week-on-week to settle at $103,100 per day. Long-haul economics softened as the market retraced some of the gains seen during the recent period of heightened volatility, resulting in weaker sentiment towards the end of the week.

In the time-charter market, sentiment was mixed but broadly stable. The six-month rate edged up by $500 to $101,400 per day, while the one-year term slipped $234 to $80,033 per day. Further out the curve, the three-year period firmed modestly by $200 to $80,200 per day.

LPG

The LPG market softened this week as arbitrage economics weakened following recent developments in the Middle East. While activity remained present, sentiment deteriorated as trading opportunities narrowed, placing downward pressure on freight rates across all major routes.

On the BLPG1 Ras Tanura–Chiba route settled at $199.38. With TCE earnings closing at $194,459 per day.

The BLPG2 Houston–Flushing route saw the largest decline in the Atlantic, falling $36.50 week-on-week to settle at $110.00. TCE earnings dropped by $48,468 to $119,975 per day.

Similarly, the BLPG3 Houston–Chiba route corrected lower, declining $69.83 to finish the week at $190.00, while TCE returns fell by $51,263 to $101,151 per day.