LNG

The LNG market showed signs of improvement this week, with increased chartering activity and stronger sentiment supporting spot rates across both basins.

While vessel availability remains elevated, emerging October requirements and renewed interest in multi-month coverage helped improve market confidence.

On the BLNG1 Australia–Japan route, rates increased by $5,300 week-on-week to settle at $26,000/day. The Pacific market strengthened steadily through the week as cargo demand improved and sentiment turned slightly more positive.

The BLNG2 US Gulf–Continent route rose by $2,100 to close at $19,100/day. While Atlantic fundamentals remain challenging, increased enquiry and firmer sentiment provided support, allowing rates to recover modestly from recent lows.

Similarly, the BLNG3 US Gulf–Japan route gained $8,200 week-on-week to settle at $37,600/day. The route posted the strongest increase of the three assessments, supported by a tighter tonnage list to the backend of the window.

In the time charter market, sentiment grew softer. The six-month rate fell by $8,500 to $47,500/day, while the one-year term declined by $2,000 to $52,500/day. Further out the curve, the three-year period eased by $450 to $72,000/day.

LPG

The LPG market was relatively quiet this week, with many participants focused on industry events. Only one fixture was reported that limited price discovery. Rising tensions in the Middle East remain a key watchpoint and could influence sentiment and freight rates in the weeks ahead.

On the BLPG1 Ras Tanura–Chiba route, rates settled at $226.00, with TCE earnings closing at $216,042/day. The BLPG2 Houston–Flushing route declined by $1.08 week-on-week to settle at $153.67, with TCE earnings falling by $2,040 to $173,637/day. Similarly, the BLPG3 Houston–Chiba route fell $1.43 to close at $281.57, while TCE returns decreased by $1,863 to $165,292/day. The route remained largely unchanged amid muted trading conditions.