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LNG rates in the Atlantic basin declined sharply, while the Pacific market remained more stable, with minor gains for larger vessels.
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Pacific LNG spot rates on the Gladstone–Tokyo route showed slight improvement, suggesting a steady demand outlook in the region.
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LNG period charter rates softened, indicating growing caution among long-term charterers amid uncertain market direction.
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LPG freight rates rose across major routes, driven by sustained demand in both the Far East and Atlantic, supporting higher TCE earnings.
LNG: Atlantic Weakens, Pacific Holds Steady
The global LNG shipping market saw diverging trends this week. In the Pacific, the BLNG1 Gladstone–Tokyo route recorded a minor uptick for 174k cbm vessels, which rose by $200 to reach $27,300/day, while 160k cbm vessels declined by $400 to $17,400/day. The modest gain in larger vessel rates reflects a steady Pacific demand outlook, according to Baltic Exchange.
In contrast, the Atlantic Basin faced notable pressure. On the BLNG2 Sabine–UK Continent route, 174k cbm rates dropped sharply by $2,100 to $23,300/day, and 160k cbm rates slid by $800 to $12,600/day. The BLNG3 Sabine–Tokyo route also declined, with 174k cbm vessels down $900 at $28,900/day and 160k cbm vessels falling by $1,000 to $14,800/day. These declines underscore the weakened sentiment in the Atlantic market.
Period Charter Rates Reflect Cautious Outlook
The LNG period market continued to soften. Six-month charters declined by $350 to $28,250/day, one-year charters dropped by $825 to $32,925/day, and three-year rates eased by $150 to $53,350/day. This trend reflects a slightly cautious stance among long-term charterers as market direction remains uncertain.
LPG: Gains Continue Across All Key Routes
The LPG freight market maintained a positive trajectory, buoyed by strong demand and active chartering. On the BLPG1 Ras Tanura–Chiba route, rates rose by $4.58 to $59.17, with TCE earnings climbing $4,482 to $41,720/day, highlighting sustained demand in the Far East. In the Atlantic, the BLPG2 Houston–Flushing route gained $4.38 to reach $58.75, while TCE earnings surged by $5,530 to $58,092/day, pointing to robust chartering activity in the region.
Meanwhile, the BLPG3 Houston–Chiba long-haul route experienced a moderate increase of $3.17, reaching $108.17, with TCE earnings up $1,783 at $40,275/day. This indicates a more balanced but still supportive market for long-distance voyages.
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Source: Baltic Exchange
