LNG

The LNG market strengthened this week, with increased fixing activity helping to reduce some of the available tonnage in both basins. The Atlantic market firmed following a number of fixtures and a slight drawdown in the position list, although further cargo requirements will be needed to maintain the momentum.

On the BLNG1 Australia–Japan route, rates increased by $6,500 week-on-week to settle at $44,800/day. The Pacific market strengthened as prompt vessel availability reduced, although overall supply and demand remain relatively balanced.

The BLNG2 US Gulf–Continent route increased by $500 to close at $29,800/day. Recent fixing activity provided some support to rates, although sufficient vessel availability continued to limit further upside. Similarly, the BLNG3 US Gulf–Japan route gained $3,300 week-on-week to settle at $63,800/day.

In the time charter market, rates firmed across all periods. The six-month rate increased by $1,800 to $42,500/day, while the one-year term rose by $2,067 to $53,867/day. Further out the curve, the three-year period edged higher by $100 to $70,600/day.

LPG

The LPG market remained relatively subdued this week. The East-West arbitrage remains open and continues to support cargo economics, while vessel availability remains broadly balanced against demand.

On the BLPG1 Ras Tanura–Chiba route, rates settled at $257.20/tonne, with TCE earnings closing at $245,402/day.

The BLPG2 Houston–Flushing route increased by $1.17 week-on-week to settle at $174.33/tonne, with TCE earnings rising by $1,588 to $200,947/day. Despite the modest increase, charterers retained some negotiating leverage amid quieter market activity.

Similarly, the BLPG3 Houston–Chiba route gained $3.86 to close at $313.14/tonne, while TCE returns increased by $767 to $184,820/day. Rates remained relatively stable, with participants looking to fresh cargo activity for clearer direction in the coming weeks.