LNG

The LNG market saw muted activity due to most market players attending Nor-Shipping, with slight softening in the Pacific and mixed resilience in the Atlantic basin. Freight rates for both vessel sizes posted losses on the longer Pacific routes, while US–Europe maintained slight upward pressure.

On the BLNG1 Australia–Japan route, rates dropped $600 for both vessel sizes. The 174k cbm units slipped to $19,900 per day, while 160k cbm ships settled at $11,100 per day—continuing the downward trend amid weaker Pacific demand.

In contrast, the Atlantic showed some divergence. BLNG2 US Gulf–Continent saw a modest $200 gain for 174k cbm vessels to $29,100 per day, with 160k cbm vessels holding steady at $14,600 per day, reflecting stable tonnage and modest activity.

However, the BLNG3 US Gulf–Japan route softened further, falling $800 and $200 for 174k and 160k cbm vessels respectively, closing at $34,300 and $17,500 per day. The decline points to reduced long-haul interest and ongoing pressure from a weak arbitrage window.

The time charter market reflected a cautious tone. Six-month TC rates fell $300 to $38,450 per day, and one-year deals edged down $75 to $39,800. However, three-year charters rose, climbing $1,450 to $56,000 per day.

Despite the mixed signals, sentiment remains steady, with players mostly readying for end of July and August positions.

LPG

The LPG market posted gains this week across all major routes, despite most players attending Nor-Shipping. A slight widening of the arbitrage helped lift these rates.

On the BLPG1 Ras Tanura–Chiba route, rates climbed $0.75 to settle at $68.75, with TCE earnings rising $728 to $54,198/day.

In the Atlantic, the BLPG2 Houston–Flushing route gained $2.25, closing at $64.13, while TCE earnings jumped $2,604 to $67,519/day.

The BLPG3 Houston–Chiba route delivered the strongest growth, gaining $5.08 to $119.83, while TCE returns added $3,918, reaching $51,372/day. The gains came as vessel availability tightened for long-haul voyages and arbitrage discussions reopened.

Source: Baltic Exchange