LNG rates remained flat with little movement despite colder weather in London. While some modern ships were still working, older ones struggled to find cargo. Rates like BLNG1 Aus-Japan for the 174cbm 2-stroke stayed at $73,000, and some routes saw minor declines. Meanwhile, the LPG market faced sharp rate declines with few cargoes being fixed. BLPG1 Ras Tanura-Chiba dropped by 14.68%, and TCE earnings plummeted across several routes, reports Baltic Exchange.
LNG
The weather in London may have become wintrier and forecasts of more cold spells to come have done little to the expected LNG market seasonal rise. Rates are flat/soft with very few fixtures being reported, though some cargoes are working more modern tonnage leaving older ships languishing.
Rates have moved little, indeed the BLNG1 Aus-Japan on the 174cbm 2-stroke closed unchanged at $73,000 while the 160-cbm TFDE vessel lost $1000 down to $57,800. BLNG2 Houston-Cont saw negative drops on both the 174cbm 2-strokes and 160cbm TFDE indexes where they finished down 3.67% and 1.55% respectively at $56,721 and $45,200. BLNG3 Houston-Japan was flat as Intra Basin activity remains muted. The 174cbm 2-stroke index lost $2400 to a close of $76,100 while the 160cbm TFDE index finished up $481 at $62,981.
On the Baltic Period prints, all three terms fell with 6-months shorter periods feeling the squeeze losing 10.8% down $8900 at $82,400 while 1-year fell by $275 to $72,975 and though the 3-year period was more stable losing only 0.87% it fell to $80,900.
LPG
With an increasing tonnage list and little reported open interest with cargoes, there is not much to report back on the VLGC market. BLPG1 Ras Tanura-Chiba lost $7.583 a fall of 14.68% closing at $51.667. The TCE Earnings took a hit as well losing over 21% down $6734 at $31,605.
Across the Atlantic there was not much more to say, although rates suffered less, and we did see a few cargoes fixed on ships rates took a battering. BLPG2 Houston-Flushing lost 11.04% down $6.375 and with a close of $57.75 has been approaching the lows of the height of summer again. BLPG3 Houston-Chiba lost $10.167 a drop of 9.79% and a close of $103.833, TCE earnings were down 16.22% at $38,755.
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Source: Baltic Exchange
