The Baltic Briefing has issued the tanker report for the 23nd week of this year. The report dated 15th June 2023 provides valuable insight into this week’s gas market dealings, LNG, and LPG.
LNG
There has been some movements this week on the BLNG, with several ships that have been put on subs bolstering the rates. Rates for BLNG2 (USG/UKC) rose over $7,000/day to end the week at $48,945/day. Cargoes that had been rumoured previously are now covered and though the position lists show several ships available, optionality on those ships remains tight, which could help the rates further. For BLNG3 (USG/Japan via the Panama Canal) the rate rose $6,728 to close at $62,112 on the back of some interest from charterers but unsupported by owners. Out in the East, BLNG1 (Australia-Japan) rose by $6,900/day since Tuesday to a shade below $49,500 per day, supported by one vessel that had been reported on subs for intra-Pacific trade.
LPG
A quiet week overall for LPG, with many market players enjoying sunshine out in Oslo for Nor-Shipping. Rates softened overall and on the Eastern BLPG1 route we saw little life prior the ADNOC acceptances. Rates fell to $104.143, a big drop from the day before shedding more than $7 in one swoop. Sentiment has fallen away and owners are pushing ships out with little enquiry coming back in and further falls could be expected.
The BLPG3 route (USG/Japan) didn’t fare much better, closing at $148.286, a fall of a little more than $5 from the day before and nearly $8 from the start of the week. It was reported that just two vessels were fixed out in the US in the last week so despite the sun shining for many enjoying Nor Shipping, those in the office and with ships are a little more sombre.
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Source: Balticexchange
