- LNG market remained largely flat, with minimal gains in the Atlantic and slight declines across most Pacific routes.
- Larger LNG vessels (174k cbm) performed slightly better than smaller 160k cbm units, though time charter rates eased across all durations.
- LPG freight rates weakened further due to limited arbitrage opportunities and oversupply in both Middle East and Atlantic basins.
- The steepest LPG decline occurred on the Houston–Chiba route, where rates dropped by $12.67 per metric tonne and earnings fell nearly $9,800 per day.
LNG and LPG freight markets saw another subdued week in trading, with most routes experiencing marginal shifts and little overall momentum. LNG routes in both the Atlantic and Pacific basins showed mixed performance, while LPG markets continued to soften amid limited arbitrage opportunities and lengthening tonnage lists, as published by the Baltic Exchange.
The LNG market continued to drift sideways, showing minimal progress across major routes. In the Pacific, the BLNG1 Australia–Japan route saw 174k cbm vessel earnings dip by $600 to $24,600 per day, while 160k vessels slipped by $300 to $13,500 per day due to sluggish demand and excess tonnage. The Atlantic showed a similar trend, with the BLNG2 US Gulf–Continent route posting a modest gain of $800 to $22,600 per day for 174k cbm ships, even as 160k tonnage fell $400 to $11,000 per day. Larger vessels on the BLNG3 US Gulf–Japan route improved by $1,200 to $26,600 per day, though smaller ones declined by $800 to $13,100 per day. Time charter benchmarks also eased, with six-month, one-year, and three-year terms slipping to $29,900, $34,250, and $50,500 per day respectively.
LPG markets mirrored this quiet sentiment, weighed down by narrowing arbitrage economics and a long position list in the Middle East. The BLPG1 Ras Tanura–Chiba route dropped $4.75 to $67.67 per metric tonne, with daily TCE earnings down $5,051 to $53,605. In the Atlantic, rates weakened further as the BLPG2 Houston–Flushing route fell $7.50 to $73.50 per metric tonne, with TCE returns down $9,866 to $81,498 per day. The BLPG3 Houston–Chiba route also declined sharply, shedding $12.67 to $135.33 per metric tonne and cutting TCE earnings to $64,171 per day, as soft Atlantic demand and limited trading opportunities continued to pressure rates.
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Source: Baltic Exchange
