- LNG rates eased in the Pacific, moved by weaker demand and limited activity during Nor-Shipping. Atlantic LNG routes showed mixed trends, with slight gains on shorter routes but continued pressure on long-haul trades.
- Time charter rates were mostly flat to lower, except for a rise in three-year deals.
- LPG markets saw strong gains, supported by improving arbitrage conditions and tighter vessel supply.
Activity in the gas shipping market remained relatively subdued during Week 23, largely due to industry participation at Nor-Shipping. The LNG segment experienced mixed movements, with softening Pacific rates and steadier conditions in the Atlantic. Meanwhile, the LPG market posted across-the-board gains, supported by improving arbitrage opportunities and tighter vessel availability.
LNG:
The LNG freight market saw limited movement this week, with many participants attending Nor-Shipping. In the Pacific, both vessel sizes on the BLNG1 Australia–Japan route saw rates decline by $600. Rates for 174,000 cbm vessels dropped to $19,900 per day, while 160,000 cbm units settled at $11,100 per day. This downward trend reflects soft demand in the region.
In the Atlantic, the picture was more varied. The BLNG2 US Gulf–continent route recorded a small gain of $200 for 174,000 cbm vessels, bringing rates to $29,100 per day. Meanwhile, 160,000 cbm vessels held steady at $14,600 per day, supported by stable tonnage levels and modest activity.
The BLNG3 US Gulf–Japan route continued to soften, with rates falling by $800 for 174,000 cbm vessels and $200 for 160,000 cbm units. This brought daily earnings to $34,300 and $17,500, respectively, reflecting subdued long-haul interest and a narrow arbitrage window.
Time charter activity also pointed to caution. Six-month rates declined by $300 to $38,450 per day, while one-year deals slipped $75 to $39,800. In contrast, three-year charters rose by $1,450, reaching $56,000 per day. Overall, market sentiment remains steady as players look ahead to late July and August positions.
LPG:
The LPG market recorded gains across all key routes this week, buoyed by a slight widening in the arbitrage and tighter vessel supply, particularly for long-haul voyages.
On the BLPG1 Ras Tanura–Chiba route, rates increased by $0.75 to $68.75, pushing TCE earnings up by $728 to $54,198 per day. In the Atlantic, the BLPG2 Houston–Flushing route saw a stronger rise, gaining $2.25 to close at $64.13, with TCE earnings improving by $2,604 to $67,519 per day.
The largest jump came on the BLPG3 Houston–Chiba route, where rates climbed $5.08 to $119.83. TCE returns rose by $3,918 to reach $51,372 per day. These gains were supported by tightening vessel availability and renewed interest in long-haul arbitrage opportunities.
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Source: Baltic Exchange
