LNG

The LNG freight market saw a mixed week, with softening in the Atlantic basin contrasting with a steadier Pacific performance. While Pacific spot earnings held firm or improved slightly, the Atlantic faced rate pressure.

On the BLNG1 Australia to Japan route, 174k cbm vessels held steady at $22,800/day, while 160k cbm vessels ticked up $200 to $14,000/day.

In the Atlantic, rates pulled back. BLNG2 US Gulf to Continent saw a sharp drop of $2,700 for 174k cbm vessels, settling at $38,900/day, while 160k cbm units declined $800 to $18,800/day. Similarly, BLNG3 US Gulf to Japan dropped $1,700 and $500 for 174k and 160k cbm vessels, respectively, closing at $45,700 and $23,800/day.

The time charter market remains firm. Six-month TC rates rose $1,350 to $32,950 per day, while one-year charters gained $1,525, closing at $36,325 per day. Three-year rates were also higher, up $850 to $54,800 per day, reflecting charterer appetite for securing tonnage ahead of potential tightening in the second half of the year.

LPG

The LPG market saw a marked rebound this week, led by strength on the Ras Tanura to Chiba route. Activity levels seem to be picking up following a relatively quiet April, with sentiment turning more bullish amid improved fixing demand.

BLPG1 Middle East Gulf to Japan rose sharply, climbing $6.08 on the week to settle at $54.33, with TCE earnings jumping by $6,142 to $38,245/day. The gains suggest growing prompt demand, likely linked to stronger East Asia lifting schedules.

BLPG2 US Gulf to Continent ticked up marginally by $0.25 to $53.00, while TCE earnings decreased $381, closing at $52,141/day.

BLPG3 US Gulf to Japan was flat across the week at $102.17, with TCE slipping $674 to $37,570/day. Rates continue to hold, but upside momentum appears limited in the absence of new cargo demand or significant repositioning.
Source: The Baltic Exchange