- Both the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) markets experienced another week of subdued activity.
- Limited charterer interest and vessel oversupply have contributed to the overall weakness.
- While the LNG market saw some minor uptick in the Atlantic basin, it was insufficient to drive significant rate increases.
- The LPG market, on the other hand, remained largely stagnant with minimal trading activity.
LNG
Houston-Cont the 160cbm saw a small loss with a close of $58,300, down $2,600 while the 174cbm finished down $4,400 and a close of $74,400. BLNG3 Houston-Japan saw little enquiry over the week and rates reflected this with a close of $73,400 on the 160cbm while the 174cbm finished at $88,400 a loss of $3,200 and $4,600, respectively.
Period conversations are ongoing, but the rates remained steady. Our six-month assessment lost $1,100 to $101,900 while the one-year terms fell to $83,333. For three years we saw an uptick of $200 but a steady rate overall and a close of $84,200.
LPG
With another quiet week for LPG across the board, there has not been much in a driving force for rates, summer doldrums have kept levels flat, and brokers are not reporting much fixing, let alone enquiry at the moment. The new acceptances expected at the beginning of the week did not do much to bolster the rates and as such we look forward to another weekend.
Out in the MEG there was a marginal rise with BLPG1 Ras Tanura-Chiba rising by $0.417 cents to $52.917, which brought TCE earnings up to $31,903. While BLPG2 Houston-Flushing kept soft losing $0.525 cents to a close of $49.375 and a daily TCE earning of $42,961. While BLPG3 Houston-Chiba saw the largest movement, if negative, of the week, losing $0.904 cents to a close of $90.667 and a daily TCE earning of $28,057.
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Source: Baltic Exchange
