- US Gulf LNG Routes See Minor Rate Shifts Amid Patchy Demand.
- LNG Time Charter Rates Extend Decline on Weak Outlook.
- LPG Market Active but Faces Rate Resistance.
The LNG market has been pretty quiet this week, with tonnage lists remaining stable and only a few new inquiries coming in, which has kept the overall sentiment flat across the major routes, reports Baltic Exchange.
Pacific – Australia–Japan Rates Slip
On the BLNG1 route from Australia to Japan, rates for 174,000 cbm vessels dropped by $1,500, landing at $33,400 per day, while the 160,000 cbm units held steady at $22,200. Activity in the Pacific has been subdued, reflecting weak short-term demand.
Atlantic – US Gulf Routes Mixed
In the Atlantic, the BLNG2 route from the US Gulf to the Continent saw rates for 174,000 cbm vessels rise by $500 to $34,900 per day, and 160,000 cbm rates increased by $800 to $21,300. However, on the BLNG3 route from the US Gulf to Japan, rates for 174,000 cbm vessels dipped by $100 to $42,100, while the 160,000 cbm rates climbed by $600 to $26,100. Demand has been inconsistent, which is limiting opportunities for eastward arbitrage.
Time Charter Rates Weaken Further
Six-month time charter rates took a hit, dropping by $3,600 to $47,250 per day. Both one-year and three-year rates fell by $1,250, settling at $46,250 and $57,000, respectively, reflecting the overall softness in the market and a lack of clear visibility moving forward.
LPG Market – Active but Rates Ease Slightly
The LPG chartering scene has remained active, but rates have softened a bit as charterers are pushing back against further increases, even with a balanced supply of vessels.
Middle East – Ras Tanura–Chiba Steady
On the BLPG1 route from Ras Tanura to Chiba, rates held steady at $85.00 per metric tonne, although TCE earnings slipped by $820 to $71,129 per day, indicating some resistance at the recent highs.
Atlantic – Houston Routes Decline
For the BLPG2 route from Houston to Flushing, rates fell by $1.50 to $76.50, with TCE earnings down by $2,463 to $83,181. The BLPG3 route from Houston to Chiba saw a drop of $3.08 to $137.67, and TCE
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Baltic EXchange
