LNG

The LNG market strengthened this week, with an influx of cargoes and a tightening position list providing support across most routes. Increased enquiry helped improve sentiment, particularly in the Atlantic basin.

On the BLNG1 Australia–Japan route, rates remained relatively stable, easing by $400 week-on-week to settle at $70,900/day. Despite the firmer market backdrop, the Pacific route saw limited upside as rates traded within a narrow range throughout the week.

The BLNG2 US Gulf–Continent route posted a solid gain of $6,600 to close at $96,000/day. Increased cargo availability and a tightening tonnage list supported sentiment, allowing rates to strengthen steadily as the week progressed.

Similarly, the BLNG3 US Gulf–Japan route rose $8,600 week-on-week to settle at $104,500/day. The route recorded the largest increase among the spot assessments, benefiting from improving long-haul demand and a growing imbalance between cargoes and available vessels.

In the time-charter market, sentiment remained softer. The six-month rate fell by $14,600 to $85,200/day, while the one-year term declined by $767 to $74,700/day. Further out the curve, the three-year period softened by $2,400 to $76,500/day.

LPG

The LPG market strengthened this week as fixing activity increased, and the position list began to tighten. While arbitrage economics remain a key factor for sentiment, the improvement in enquiry helped support rates across the major VLGC routes.

On the BLPG1 Ras Tanura–Chiba route, rates settled at $238.75, with TCE earnings closing at $238,629/day.

The BLPG2 Houston–Flushing route increased by $11.25 week-on-week to settle at $118.00, with TCE earnings rising by $15,543 to $130,544/day. Rates strengthened steadily throughout the week as the tightening tonnage list provided support.

Similarly, the BLPG3 Houston–Chiba route moved higher, gaining $27.00 to finish the week at $220.00, while TCE returns increased by $21,964 to $125,024/day. The route benefited from stronger sentiment as fixing activity picked up, and available vessel supply continued to tighten.