The Baltic Exchange’s Gas Report for Week 26 (ending June 28, 2025) presents a mixed landscape in the global gas shipping sector, with LNG freight rates showing strength in key regions, while LPG rates trended mildly lower across most trade routes. The report provides insights into rate movements for both 160K and 174K cbm LNG carriers, alongside time-charter trends and VLGC performance on major LPG lanes.
LNG
The LNG market had a week of mixed fortunes with rates for the 160K cbm and 174K cbm pushing up in the Pacific. Elsewhere rates seem to peak earlier in the week and are sliding down now.
On the BLNG1 Australia–Japan route, rates improved by $11,000 per day for 174K cbm vessels to $44,000 per day, while 160K cbm ships rose $3,400 per day to $21,000 per day.
Atlantic basin routes came out as weaker on Friday, having peaked on Tuesday. BLNG2 US Gulf–Continent on the 174K cbm rates climbed to $50,500 then fallen back today to $47,400 per day, a week-on-week loss of $1,900 per day. For the 160K cbm ships, rates peaked at $30,500 earlier in the week and are today assessed at $28,600 per day, a weekly gain still of $1,700.
BLNG3 US Gulf–Japan rates peaked earlier in the week, showing $62,300 per day for the 174K cbm vessels on Tuesday and today at $58,400 per day, a week-on-week loss of $2,100 per day. The 160K cbm ships also topped-out earlier in the week at $40,000 per day and are assessed today at $36,700 per day, a week-on-week gain of $300 per day.
Time charter markets also firmed. Six-month TC rates were published at $56,900, 12 months at $51,500- and 3-year rates at $63,000. All are firm improvements upon last week.
LPG
The LPG market showed signs of stability translating to modest drops in freight levels this week.
The BLPG1 AG–Japan route saw a drop down of $6.25 to settle at $80.583 per metric ton, taking TCE earnings down by $5,365 to $66,638 per day.
The BLPG2 US Gulf–Continent route also posted a small drop, shedding $2.31 to finish at $69 per metric ton. The corresponding TCE went from $74,742 to $73,539 per day.
The BLPG3 US Gulf–Japan route held resolute to settle at the end of the week at $124.4 per metric ton (-$1.03), with TCE earnings remaining at the $54,000 per day.
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Source: Baltic Exchange
