LNG

The LNG market came under more downward pressure, with rates trending lower across most routes. With global prices softening and the West-to-East arbitrage effectively closed, shipping rates have come under pressure.

On the BLNG1 Australia–Japan route, rates eased by $5,200 week-on-week to settle at $75,000/day. The Pacific market saw a steady decline through the week. The BLNG2 US Gulf–Continent route moved against the broader trend, increasing slightly by $1,600 to close at $90,100/day.

Rates showed some volatility but ultimately found support towards the end of the week, suggesting some resilience. Similarly, the BLNG3 US Gulf–Japan route declined $1,800 week-on-week to settle at $99,200/day. Rates came under pressure midweek before stabilising. In the time-charter market sentiment weakened across all periods. The six-month rate fell by $1,600 to $99,800 per day, while the one-year term declined by $2,400 to $77,633/day. Further out the curve the three-year period softened by $1,300 to $78,900/day.

LPG

The LPG market remained under pressure this week, with subdued activity being seen. Although the tonnage list stayed relatively tight, the weakening arbitrage continued to limit enquiry and fixing, weighing on sentiment and freight levels.

On the BLPG1 Ras Tanura–Chiba route, rates settled at $211.25, with TCE earnings closing at $205,504/day. The BLPG2 Houston–Flushing route declined $14.75 week-on-week to settle at $90.25, with TCE earnings falling by $21,119 to $92,027/day.

Following BLPG3 sentiment. The BLPG3 Houston–Chiba route moved lower, dropping $21.92 to close at $158.08, while TCE returns decreased by $19,620 to $73,574/day. The route saw a gradual erosion in rates, reflecting the broader lack of momentum in the market, as the weaker arbitrage conditions weighed on rates.