The LNG freight market has seen a steady decline in rates this week across both basins. The Pacific spot earnings has eased slightly whereas the Atlantic’s rate performance has not been so subtle.

On the BLNG1 Australia to Japan route, 174k cbm vessels have eased from $22,800 per day to $22,600 per day, while 160k cbm vessels have shown a similar performance to $22,600 per day, today.

In the Atlantic, rates have continued to be dragged downwards. BLNG2 US Gulf to Continent saw a sharp $18% drop to $31,800 for 174k cbm vessels, while 160k cbm units declined almost 13% to $16,400 per day. The BLNG3 US Gulf to Japan route dropped $5,400 and $2,700 for 174k and 160k cbm vessels respectively, closing at $40,300 and $21,100 per day.

The term charter market went up this week, following positive spot sentiment recently. Six-month TC rates rose $2,500 to $35,450 per day, while one-year charters gained $2,850, closing at $39,175 per day. Three-year rates were also higher, up $1,750 to $56,550 per day, reflecting charterer appetite for securing tonnage ahead of potential tightening in the second half of the year.

LPG

The LPG market surged this week across all key routes, driven by increased trading sentiment following the announcement of the new US–China tariff cuts. The policy shift has prompted a wave of positive sentiment and has translated into the upward movement of freight rates.

The BLPG1 AG–Japan route saw a sharp increase of $11.75 to settle at $68.67 per metric ton, lifting TCE earnings by $12,400 to $53,026 per day.

The BLPG2 US Gulf–Continent route also posted firm gains, climbing $5.38 to finish at $62.50 per metric ton. The corresponding TCE rose by $6,803 to $64,861 per day.

The BLPG3 US Gulf–Japan route surged $9.50, reaching $117.67 per metric ton, with TCE earnings up by $6,733 to $48,550 per day. The strength here underscores heightened demand for long-haul VLGCs on transpacific routes ahead of expected customs adjustments.

Source: Baltic Exchange