- LNG market showed renewed activity, with Atlantic basin 2-stroke tonnage seeing gains.
- LPG rates rebounded, especially on the Ras Tanura–Chiba route, but volatility persists.
- Term LNG rates declined slightly, while LPG market showed mixed earnings trends.
LNG
- The LNG market saw increased movement before IE week, with Atlantic gains and Pacific stability.
- BLNG1 Gladstone–Tokyo: 174k cbm vessels remained at $10,900/day, while 160k cbm vessels rose by $200 to $5,400/day.
- BLNG2 Sabine–UK Continent: 174k cbm rates increased by $2,000 to $6,800/day, while 160k cbm vessels stayed at $1,300/day.
- BLNG3 Sabine–Tokyo: 174k cbm vessels gained $1,400, reaching $10,000/day, with 160k cbm vessels steady at $2,600/day.
- The term market saw slight declines: six-month rates fell to $15,200 (-$150), one-year to $23,250 (-$150), and three-year to $45,900 (-$50).
- Western 2-stroke tonnage showed a positive trend, but sustainability remains uncertain.
LPG
- The LPG market saw upward movement, driven by increased cargo availability.
- BLPG1 Ras Tanura–Chiba: Rates rebounded by $2.50 to $44.83, with TCE earnings up $2,414 to $25,305.
- BLPG2 Houston–Flushing: Rates edged up by $0.06 to $47.31, but TCE earnings dropped $288 to $40,712, indicating tighter earnings.
- BLPG3 Houston–Chiba: Rates increased by $0.50 to $91.50, with TCE earnings rising by $379 to $26,770.
- While some routes saw recovery, market pressure persists due to fluctuating vessel supply and demand.
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Source: Baltic Exchange
