LNG
The LNG market has maintained its levels from last week, drifting only slightly down, with little fresh enquiry reported for March dates. There were reports that tonnage lists against supply was well balanced in the US Gulf, however demand has increased in Asia following the Lunar New Year holidays however given the supply of tonnage rates have remained flat, with a slight drop off. Though the biggest falls seen over the week were on the LNG2 US Gulf to UK/Cont route, which fell by over $5,600 week on week to $48,674 per day.
Despite the slightly softer spot market, the short period rates saw modest increases of $9,200 to $62,600 for six months TC, and three years assessed at $90,100.
LPG
The LPG Freight market from the AG has continued its upward trajectory this was reflected in the BLPG Index climbing 40% to 5779 by the end of the week. Rates rose in consistent steps across the week and Ras Tanura-Chiba BLPG1 gained $21 to finish at $82. The TCE Earnings grew by 60% and currently rests at $63,093 per day Baltic round trip.
Over the Atlantic activity also increased this week, rates are improving as a result but still trail behind the Middle East. BLPG2 Houston-Flushing saw a rise of $9.6 giving a final publication of $64 (a $14,176 rise on the TCE to a value of $62,490). BLPG3 Houston-Chiba improved with great vigor compared to last week climbing $13.77 to reach $114.429 at time of writing we understand that some March fixing that is left could help push the market further upwards. This pushed daily TCE earnings for the week up $11,336 to a final publication of $47,615.
Source: Baltic Exchange
