- The LNG market experienced an overall decline, with most routes seeing a drop in rates.
- The BLNG1 Gladstone–Tokyo route saw mixed movement, with 174k cbm vessels gaining $400 while 160k cbm vessels fell by $600.
- In the Atlantic, both the BLNG2 Sabine–UK Continent and BLNG3 Sabine–Tokyo routes recorded declines for both vessel sizes.
- Key routes such as Ras Tanura–Chiba, Houston–Flushing, and Houston–Chiba recorded declines, with TCE earnings also dropping.
LNG Market Trends
The LNG market experienced a downturn this week, with most major routes witnessing a decline in rates.
On the BLNG1 Gladstone–Tokyo route, 174k cbm vessels recorded a slight increase of $400, pushing the daily rate to $27,900, while 160k cbm vessels declined by $600, settling at $17,800 per day.
In the Atlantic basin, rates on the BLNG2 Sabine–UK Continent route dropped by $2,500 for 174k cbm vessels, closing at $28,000 per day, while 160k cbm vessels declined by $1,200, reaching $14,000 per day. The BLNG3 Sabine–Tokyo route saw a similar trend, with 174k cbm vessels falling by $1,700 to $31,400 per day and 160k cbm vessels decreasing by $800, settling at $15,800 per day.
In the period market, six-month charter rates saw a slight rise of $100, reaching $28,600 per day, while one-year charters climbed by $3,750 to $33,750 per day. Meanwhile, three-year rates remained steady at $53,500 per day.
LPG Market Performance
The LPG market experienced a downward correction this week, reversing the positive momentum observed in the previous week. Rates declined across all major routes, reflecting weaker market sentiment.
On the BLPG1 Ras Tanura–Chiba route, rates dropped by $4.58, bringing the total to $57.58, while TCE earnings decreased by $5,467 to settle at $40,626 per day. This decline is attributed to increased vessel availability and lower cargo volumes in the Middle East.
In the Atlantic basin, the BLPG2 Houston–Flushing route followed a softening trend, with rates decreasing by $2.00 to $54.00 and TCE earnings falling by $3,254, settling at $52,012 per day.
The BLPG3 Houston–Chiba route recorded the sharpest decline, with rates dropping by $5.83 to $103.67. TCE earnings fell by $4,978, closing at $37,447 per day. This indicates a cooling in the long-haul market, possibly due to reduced arbitrage opportunities.
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Source: Baltic Exchange
