- Sabine–Tokyo Route Defies Trend with Gains.
- Long-Term LNG Charters Slide Slightly.
- LPG Freight Rates Crash Following U.S. Tariffs.
The LNG market experienced mild weakening this week, with rates softening on most of the major routes. Although the Atlantic registered mixed movements, the Pacific witnessed modest declines. Market nervousness also depressed long-term charter rates, reports Baltic Exchange.
Pacific Route: Losses on Gladstone–Tokyo
On the Gladstone–Tokyo (BLNG1) route, 174,000 cbm vessel rates fell by $567 to $24,700 per day. Smaller 160,000 cbm vessels fell more sharply, down $1,500 to $14,500 per day.
Atlantic Route: Minor Changes on Sabine–UK Continent
In the Atlantic, the Sabine–UK Continent (BLNG2) route experienced minor changes.
The 174,000 cbm rate dipped marginally by $67 to $22,600, while the 160,000 cbm rate dropped $500, closing at $12,100 per day.
Sabine–Tokyo Defies Trend
The Sabine–Tokyo (BLNG3) route defied the trend with gains.
The 174,000 cbm rate advanced $1,665 to $29,500, and the 160,000 cbm rate increased by $498 to $15,300 per day, the week’s sole upward movement in LNG.
Period Market: Sentiment Deteriorates
The period charter market reflected the cautious sentiment in the spot market.
- The six-month rate for 174,000 cbm vessels declined by $350 to $27,900/day.
- The one-year rate also fell by $350 to $32,575/day.
- The three-year rate was firm but dipped $50, closing at $53,300/day.
LPG Market: Sudden Dive Affects All Routes
The LPG market saw dramatic falls in freight rates after out-of-the-blue U.S. tariff announcements. Traders sold quickly, and optimism about forthcoming demand fell significantly, affecting all key routes.
Middle East–Asia: Ras Tanura–Chiba Reports Steep Slide
The Ras Tanura–Chiba (BLPG1) route descended $23.17 to $33.50, one of the biggest record weekly falls ever. TCE earnings fell by $22,778, at the week, to $17,474.
The Houston–Flushing (BLPG2) route dropped by $15.25, closing at $41.25. TCE earnings fell $19,625, closing at $36,607.
Long-Haul Collapse: Houston–Chiba Dives
The Houston–Chiba (BLPG3) route had the biggest decline, with rates losing $28.08 to close at $75.17. TCE earnings plummeted $19,020, closing at $18,727, which illustrates how tariff uncertainty is interrupting U.S.–Asia flows.
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Source: Baltic Exchange
