- LNG rates continued to rise due to tightening vessel availability, with notable gains across key routes.
- The Atlantic market showed sustained demand, while Pacific routes remained positive, though smaller tonnage earnings faced slight pressure.
- The term market reflected spot sentiment, with multi-month rates increasing across the board.
- The LPG market remained mostly static due to reduced activity, but a potential resurgence is expected as market participants return.
LNG Market Update – Week 10
According to Baltic Exchange, The LNG market maintained its upward momentum this week, with rates rising across key routes for both 160k cbm and 174k cbm vessels, driven by tightening tonnage availability.
On the BLNG1 Gladstone–Tokyo route, 174k cbm vessels saw rates climb by $2,500 to $18,200 per day, reinforcing optimism in the Pacific. Meanwhile, 160k cbm vessels recorded a $1,500 increase to $10,500 per day, continuing their steady recovery.
In the Atlantic, the BLNG2 Sabine–UK Continent route saw rates for 174k cbm vessels rise by $1,900 to $19,800 per day, reflecting consistent demand. Similarly, 160k cbm vessels increased by $1,200 to $11,100 per day, reinforcing the market’s upward trajectory.
The BLNG3 Sabine–Tokyo route showed a mixed performance, with 174k cbm vessels increasing by $1,800 to $23,800 per day, while 160k cbm vessels saw a slight dip of $200 to $13,000 per day, suggesting some pressure on smaller tonnage earnings despite the overall market strength.
The term market has also strengthened in line with spot sentiment. Six-month rates rose by $2,150 to $18,150, one-year rates increased by $650 to $23,075, and three-year rates jumped by $2,750 to $49,500.
With rates continuing their upward trend, especially in the Atlantic, the market remains bullish. However, it remains to be seen whether this momentum will sustain or if it is a temporary correction. The impact of upcoming redeliveries could determine if rates hold or revert to prior levels.
LPG Market Update – Week 10
The LPG market remained largely unchanged this week, with minimal fluctuations, as many market participants were attending meetings in Tokyo.
On the BLPG1 Ras Tanura–Chiba route, rates saw a modest increase of $1.25 to $46.25, with TCE earnings rising by $2,656 to $29,070.
In the Atlantic, the BLPG2 Houston–Flushing route recorded a $1.00 decline, settling at $48.50, though TCE earnings edged up by $46 to $45,171. Meanwhile, the BLPG3 Houston–Chiba route saw rates dip by $2.00 to $92.33, with TCE earnings remaining stable, down just $29 to $29,604.
Overall, the LPG market remained quiet, with only a handful of cargoes reported. A clearer market direction may emerge once all participants return from Tokyo, potentially leading to increased activity.
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Source: Baltic Exchange
