- US Gulf Routes Record Firm Gains, Especially Long-Haul to Japan.
- Time Charter Market Eases Despite Spot Market Support.
- LPG Market Stays Firm Amid Panama Canal Congestion.
This week has been quite lively in the LNG market, with rates picking up across most major routes, even though the spot market remains a bit sluggish. The uptick in activity in the Atlantic and a more positive outlook for long-haul trades have helped boost spot earnings, reports Baltic Exchange.
Pacific Routes
On the BLNG1 Australia–Japan route, rates for 174k cbm vessels increased by $1,200, reaching $34,400 per day. In contrast, earnings for 160k cbm vessels dipped by $1,500 to $20,700 per day, highlighting a split in trends between larger and smaller tonnage.
Atlantic and Long-Haul Routes
The BLNG2 US Gulf–Continent route saw a boost, with 174k cbm rates rising by $400 to $36,300 per day, while 160k cbm vessels gained $1,000, bringing their rates to $23,000 per day. The BLNG3 US Gulf–Japan route experienced even stronger gains, with 174k cbm earnings climbing by $800 to $44,000 per day and 160k cbm rates also up by $800 to $26,700 per day, fueled by a surge in long-haul demand.
Time Charter Market
Unfortunately, period rates took a hit this week. The six-month TC rate dropped by $650 to $45,600 per day, the one-year rate fell by $275 to $45,700 per day, and the three-year term decreased by $1,000 to $55,950 per day. This suggests a softer outlook for the future, despite the short-term gains.
LPG Market Update
The LPG market held steady this week, supported by tight vessel availability due to ongoing congestion in the Neo Panama Canal.
On the BLPG1 Ras Tanura–Chiba route, rates inched up by $1.00 to $89.58 per metric tonne, with TCE earnings rising by $1,797 to $77,923 per day, thanks to consistent activity from the Middle East.
Atlantic Exports
The BLPG2 Houston–Flushing route remained stable, gaining $0.13 to $83.25 per metric tonne, while TCE earnings increased by $768 to $95,226 per day.
Long-Haul Trade
The BLPG3 Houston–Chiba route strengthened by $3.00 to $153.00 per metric tonne, with TCE earnings
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Source: Baltic Exchange
