The LNG spot market further strengthened this week, with two-stroke tonnage remaining extremely tight in the Atlantic, driving higher rates on all major routes.
LNG Spot Rates Surge Across Key Global Routes
On the BLNG1 Australia–Japan route, 174k cbm vessels rose $10,900 to $90,100/day, while 160k cbm ships gained slightly more, rising from $61,400/day last Friday to $73,300/day today. The BLNG2 US Gulf–Continent route saw another significant jump up, with 174k cbm rates climbing $18,500 to $147,500/day. Meanwhile, 160k cbm vessels increased from $93,000/day to $95,000, reflecting the available tonnage situation in the Atlantic Basin. The BLNG3 US Gulf–Japan route also strengthened considerably, with 174k cbm earnings up $24,500 to $149,500/day and 160k cbm tonnage gaining $9,000 to $99,000/day.
Timecharter sentiment followed the spot market but to a lesser degree. The six-month rate increased $1,050 to $39,000/day, the one-year term rose $1,575 to $39,325/day, and the three-year period firmed $250 to $54,750/day.
The LPG market remained broadly steady this week, with activity naturally slowing as Thanksgiving approached. Overall sentiment was balanced and enquiry levels remained steady, so freight levels held within a narrow range.
On the BLPG1 Ras Tanura–Chiba route, rates dipped slightly by $0.42 to $69.25 per tonne, though TCE earnings firmed $3,361 to $60,622/day. The BLPG2 Houston–Flushing route posted a modest gain, rising $0.88 to $66.25 per tonne, with daily earnings improving $3,694 to $73,328/day. The BLPG3 Houston–Chiba route also edged higher, up $1.17 to $121.00 per tonne, alongside a $4,770 increase in TCE to $57,896/day.
With the US holiday period expected to temper activity, market conditions are likely to stay steady in the near term.
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Source: balticexchange
