LNG

The rates have risen gently again this week, although with little activity widely reported. In the East, rates are now $9,847 firmer at $62,923 per day for BLNG1 (Gladstone/Japan). Market sentiment continues to have an uplifting effect on rates. In the West, for BLNG2 (USG/UKC), the rate climbed another $10,392 during the past seven days to $69,517/day and for BLNG3 (USG/Japan), where there was a report with few details, of a fixture loading USG to the Far East done on a 2-stroke LNG carrier in the low $80,000 region (which remains unverified), the Baltic’s published rate has risen $7,624 to $80,918 per day over the week. Overall, the market sentiment remains positive, with small but steady rises expected.

 

LPG

VLGC freight levels have surged this week in the AG, helped along by the sentiment in the West while all parties eagerly await the Aramco contract price for July. A BLPG1 run AG-Chiba rose by $4.286 to close at $117 rendering another $3,750 per day climb in TCE earnings, which ticked over the $100,000 mark.

Over in the West, rates rose dramatically for Houston-Chiba ($27 for BLPG3) with it presently marked at $179. Delays in Panama from the increased restriction announcement this week will be playing on all parties minds and how dramatically it will affect the market going forward. Despite earnings on a TCE daily round trip still a little discount to the AG per day now on BLPG3 its now over the $100,000/day. BLPG2 is still quiet despite rates rising to $99.6 (+$9) and a daily TCE earning of $115,330.