- 174k Vessels Gain While 160k Performance Mixed.
- Pacific Routes Provide Modest Support to Earnings.
-
Houston–Flushing Route Weakened by Softer Atlantic Demand.
The LNG market has been a bit quiet this week, although there’s a slight uptick in sentiment for some key routes. Spot earnings for 174k cbm vessels saw an improvement, while 160k cbm ships had a mixed bag of results, and time charter activity varied quite a bit, reports Baltic Exchange.
Pacific and Atlantic Routes
On the BLNG1 route from Australia to Japan, 174k cbm rates increased by $500, reaching $35,100 per day. Meanwhile, 160k cbm vessels saw a modest rise of $200 to $20,900 per day, thanks to some support from Pacific demand. The BLNG2 route from the US Gulf to the Continent also showed strength, with 174k cbm earnings climbing $600 to $36,900 per day, although 160k cbm ships dipped $200 to $21,800 per day due to uneven Atlantic demand. The BLNG3 route from the US Gulf to Japan gained momentum as well, with 174k cbm rates jumping $900 to $44,100 per day, and 160k cbm tonnage adding $200 to $25,900 per day, buoyed by steady US exports.
Time Charter Trends
Time charter results were a mixed bag. The six-month TC dipped $1,450 to $44,150 per day, while the one-year contract inched up by $50 to $45,750 per day, and the three-year contract rose by $850 to $56,800 per day.
LPG Market Conditions
The LPG market was a bit quieter, with softer sentiment as arbitrage slowed and activity eased. Rates drifted lower across all major routes.
Middle East and Atlantic Routes
On the BLPG1 route from Ras Tanura to Chiba, rates fell by $2.08 to $87.67 per metric tonne, with TCE earnings dropping $2,110 to $75,741 per day. The BLPG2 route from Houston to Flushing saw a slight decline of $1.25 to $82.00 per metric tonne, while TCE returns decreased by $1,750 to $93,235 per day, impacted by softer Atlantic demand and vessel supply weighing on sentiment.
Long-Haul Weakness
The BLPG3 Houston–Chiba route weakened $1.83 to $151.17 per metric tonne, with TCE earnings retreating $1,256 to $76,537 per day as narrowing arbitrage capped fresh enquiry and dampened long-haul sentiment.
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Source: Baltic Exchange
